Illumina on Monday said it agreed to acquire SomaLogic and other assets from Standard BioTools for $350 million in cash to expand in the proteomics market.

The deal includes additional near-term payments of up to $75 million tied to performance milestones, plus royalties.

Illumina said the acquisition of SomaLogic will advance the company’s multiomics strategy and strengthen the value of its NovaSeq X products.

"Illumina and SomaLogic have partnered closely for more than three years, and this combination increases our ability to serve our customers and accelerate our technology roadmap towards advanced biomarker discovery and disease profiling,” Illumina CEO Jacob Thaysen said in a statement.

SomaLogic produces next-generation sequencing library preparation kits. Standard BioTools, which acquired SomaLogic and its SomaScan technology 18 months ago, said Monday it will retain certain reagent commercialization rights on so-called SOMAmer kits.

Illumina will remain an open NGS platform, Thaysen said, and the company is committed to maintaining its existing proteomics partnerships and supporting a variety of multiomics solutions.

The acquisition by Illumina will help grow SomaScan, said Standard BioTools CEO Michael Egholm, adding that the “value of this transaction reflects the fundamental improvements we have made to the business.”

For Standard BioTools, the transaction will simplify the company’s operating structure and help it break even on an adjusted earnings before interest, tax, depreciation and amortization basis, the CEO said.

SomaLogic has about 250 employees worldwide. The company’s Boulder, Colorado, facilities, which include a lab, office and manufacturing space, will be part of the purchase.

Illumina expects the deal to close in the first half of 2026.