08:07 AM EDT, 06/23/2025 (MT Newswires) -- Illumina ( ILMN ) and Standard BioTools ( LAB ) said Monday they have signed a deal under which Illumina ( ILMN ) will acquire SomaLogic for a $350 million upfront payment in cash and up to $75 million in near-term performance-based milestones and royalties.

Illumina ( ILMN ) said the transaction also includes SomaLogic's Boulder, Colorado, sites.

Illumina ( ILMN ) said that the SomaLogic acquisition will enhance its presence in the proteomics industry, while Standard BioTools ( LAB ) said it will keep certain Single SOMAmer reagent commercialization rights.

The companies said they intend to close the deal in H1 2026 and will operate as independent and separate entities until completion.

Illumina ( ILMN ) shares edged 0.6% lower in recent Monday premarket activity, while Standard BioTools ( LAB ) shares were up 10.5%.