Approximately $550 Million in cash & cash equivalents on balance sheet at close, excluding potential future earnouts, to fuel inorganic growth strategy
Continuing Operations on track to achieve positive adjusted EBITDA in 2026
BOSTON, Mass., Jan. 30, 2026 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ:LAB) (the "Company" or "Standard BioTools") today announced it has completed the previously announced sale of SomaLogic to Illumina, Inc. (NASDAQ:ILMN) ("Illumina") for $350 million in upfront cash and up to $75 million in near-term earnout payments for aggregate cash consideration of up to $425 million plus specified royalties.
"The closing of this transaction marks a major milestone in our strategic transformation. We are lean, focused and extremely well positioned, and emerge today far stronger than we were yesterday," said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. "We are now financially resourced to pursue disciplined M&A that accelerates growth and scale like few similarly sized peers in our industry can."
Transaction Details
With the sale of SomaLogic to Illumina, which includes SomaScan® Assay Services, Authorized Sites and KREX™, Standard BioTools received an upfront payment of $350 million, subject to customary adjustments, and is eligible to receive up to $75 million in earnout payments, consisting of up to $25 million based on 2025 performance and up to $50 million based on 2026 performance, payable upon the achievement of specified targets for net revenue generated from SOMAmer-based assay services and related products.1
Standard BioTools will also receive a 2% royalty on net revenues generated from sales of SOMAmer-based NGS library preparation kits for 10 years and a co-exclusive license to the intellectual property relating to Single SOMAmer commercialization in singleplex affinity assays.
Following the closing of the transaction, as of January 30, 2026, Standard BioTools estimates a cash and cash equivalents balance of approximately $550 million. This approximate cash and cash equivalents balance is unaudited and may be adjusted as a result of, among other things, completion of financial closing ...
