SomaLogic Inc will receive up to $60.5 million through a combination of debt and equity financing from Visium Healthcare Partners LP. Specific terms of the agreement were not disclosed. SomaLogic is a medical diagnostic technology company based in Boulder, Colorado.
SomaLogic, Inc., and Visium Healthcare Partners, LP today announced that SomaLogic will receive up to $60.5 million through a combination of debt and equity financing from Visium. The proceeds will be used to support SomaLogic’s continued growth, including its primary focus on the development of novel life science tools and clinical diagnostics based on the Company’s proprietary proteomics technology. Specific terms of the agreement were not disclosed.
“We are very pleased to partner with Visium Healthcare Partners, who have created a customized financing structure that enables us to meet our capital needs and continue to execute our strategic growth initiatives,” said Byron Hewett, Chief Executive Officer of SomaLogic. “This investment underlines their recognition of our significant potential, and gives us the opportunity to leverage their deep healthcare sector expertise during the critical next stage of SomaLogic’s development.”
“SomaLogic’s proprietary SOMAmer and SOMAscan technologies provide researchers and clinicians with a level of proteomic information that promises to revolutionize how diseases are diagnosed and treated,” said Avi Amin, MD, Partner of Visium Healthcare Partners. “We believe that SomaLogic is an incredibly compelling emerging healthcare company and expect that this investment will help accelerate the realization of their ambitious vision and vast potential.”
SomaLogic’s technology platform gives researchers and clinicians critical tools for protein biomarker discovery, diagnostics development, and pharmaceutical innovation. SOMAmer reagents, which are at the center of SomaLogic’s proteomics platform, are a new class of superior protein-binding reagents that combine the best properties of both monoclonal antibodies and traditional aptamers. The SOMAscan assay, which incorporates 1,310 different SOMAmer reagents, efficiently, accurately, and rapidly measures proteins across a wide range of concentrations in small volumes of multiple biological sample types, accelerating the discovery of biomarkers across a wide range of diseases and conditions.
“We welcome Visium as a long-term financial partner supporting our rapidly expanding efforts to provide state-of-the-art, sensitive, accurate, and highly multiplexed proteomics tools for both clinical and research needs,” said Larry Gold, PhD, Founder and Chairman of SomaLogic. “This infusion of growth capital provides us with the opportunity to even more quickly realize our ultimate goal of delivering much-needed new diagnostics tests to the clinic.”
SomaLogic is transforming healthcare by applying our proprietary protein-measurement
technology to the development of new diagnostic tests that deliver a higher quality of life by
detecting diseases at their earliest stages and monitoring general wellness. Our ultimate
goal is the “Wellness Chip,” a single cost-effective and reliable blood test for multiple
diseases and conditions that will enable healthcare providers to precisely monitor each
individual’s state of health and wellness in real time. Our technology also has multiple
potential applications in both life sciences and therapeutics, and it is now available to the
entire biomedical scientific community for their own research needs. For more information,
Visium Healthcare Partners is a healthcare investment fund focused on structured
investments in growth-stage healthcare companies that have innovative, commerciallyvalidated
products and technologies. The fund targets investments of $20 million to $100
million or more and seeks to develop customized financing solutions for its partners in both
public and private markets worldwide. Visium Healthcare Partners is managed by an
affiliate of Visium Asset Management, LP, an alternative investment firm with
approximately $8 billion in assets under management and approximately 170 employees
across offices in New York, London, and San Francisco.