SomaLogic raises up to $60.5 million from Visium Healthcare Partners to support strategic growth initiatives

SomaLogic raises up to $60.5 million from Visium Healthcare Partners to support strategic growth initiatives

3/1/2016

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 more quickly realize our ultimate goal of delivering much-needed new diagnostics tests to the clinic.”


The University of Oxford and SomaLogic Announce wide-ranging agreement to use SOMAscan in translational research

The University of Oxford and SomaLogic Announce wide-ranging agreement to use SOMAscan in translational research

2/8/2016

The University of Oxford and SomaLogic announced today that they have agreed to undertake a number of collaborative projects that will employ SomaLogic’s proprietary SOMAmer reagents and SOMAscan assay technologies to discover and characterize protein biomarkers for a range of clinical diseases and conditions. In order to maximize the collaborative nature of these projects and accelerate the translation of discoveries into clinical testing, the agreement also includes the build-out of a SOMAscan assay service laboratory at Oxford under the direction of SomaLogic personnel.

“We welcome SomaLogic to Oxford, one of Europe’s largest centers for biotechnology research,” said Simon Lovestone, Professor of Translational Neuroscience. “This agreement is a model for how we can bring together the best of industry, academia and the National Health Service to improve healthcare outcomes for patients in the UK and beyond. SomaLogic will benefit from access to Oxford’s world-leading research to develop and refine its products, while we will benefit from access to technology that can enhance what we do.”

“We are excited to closely join our proteomics technologies and knowledge with the biomedical expertise of Oxford’s world-class researchers,” said Byron Hewett, CEO of SomaLogic. “The massive data that will be generated from this agreement should rapidly lead to new applications of our technologies to the clinical diagnosis and management for many diseases and conditions.”

Compared to other current proteomic technologies, SomaLogic’s platform gives researchers unprecedented power 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.

Oxford is well placed to exploit the wealth of information generated by the SOMAscan technology. The agreement comes as Oxford completes work on its Big Data Institute, which will focus on the analysis of large data sets in an effort to improve detection, treatment and prevention of a range of conditions, adding to work in the existing Target Discovery Institute, which looks for potential new targets for treatments. Overall, the university’s medical research ranges from initial lab work to clinical application in hospitals and health centers, with centers of excellence investigating a range of conditions from cancer and Alzheimer’s to rare tropical diseases. Much of that research can benefit from further proteomics support.

About Medical Sciences at Oxford University
Oxford University’s Medical Sciences Division is one of the largest biomedical research centers in Europe, with over 2,500 people involved in research and more than 2,800 students. From the genetic and molecular basis of disease to the latest advances in neuroscience, Oxford is at the forefront of medical research. The university is rated the best in the world for medicine and life sciences, and it is home to the UK’s top-ranked medical school. It has one of the largest clinical trial portfolios in the UK and great expertise in taking discoveries from the lab into the clinic. Partnerships with the local NHS Trusts enable patients to benefit from close links between medical research and healthcare delivery. More information at www.ox.ac.uk/research

About SomaLogic
SomaLogic, Inc., is a privately held biomarker discovery and clinical diagnostics company based in Boulder, Colo. The company’s mission is to use its proprietary modified aptamer-based proteomic technologies to develop a wide range of enhanced protein-analysis tools and reagents for the life sciences community; to facilitate biomarker discovery and validation for diagnostic and therapeutic applications; and to develop and commercialize clinical diagnostic products that will improve the delivery of health care by offering timely and accurate diagnostic information to physicians and their patients. Further information about SomaLogic can be found at www.somalogic.com


Matthew (“Matt”) Norkunas, M.D., announced as new SomaLogic CFO

Matthew (“Matt”) Norkunas, M.D., announced as new SomaLogic CFO

2/8/2016

SomaLogic, Inc., announced today that Matthew (“Matt”) Norkunas, M.D., joined the company as Chief Financial Officer (CFO).

“We are excited that Matt has agreed to join us during this critical growth period for SomaLogic,” said Byron Hewett, Chief Executive Officer. “His unique combination of experience and knowledge matches up well with our needs as we continue our transition from a start-up company to a successful business organization.”

“I look forward to working with the amazing SomaLogic team to realize the full potential of their R&D work over the past 15 years,” said Dr. Norkunas. “Their powerful technology should transform many areas of the life sciences and healthcare, and I am excited to help lead those efforts.“

Prior to SomaLogic, Dr. Norkunas was a Senior Research Analyst at Marsico Capital Management in Denver, focused on biotech, pharma, life sciences, and diagnostics companies. While at Marsico, he valuated companies at both the private and public level, spearheading firm participation in a number of capital market transactions for companies in the space, including secondary equity, IPO, crossover and debt financings.

In addition to his experience in the venture capital industry, Dr. Norkunas is a board-certified anesthesiologist. During his medical career he also served three years as the Vice President of New Business Development for AABP, a private physician group in New York City that grew rapidly under his business development leadership, including the foundation of a new regional anesthesia program. Dr. Norkunas actively participated in various clinical trials during these years, authored scientific publications and presentations and developed two patents (pending) for medical devices. He received his anesthesia training at Mount Sinai in New York, and earned his M.D. from the University of Maryland Medical School, his M.B.A. from Columbia University, and his B.A. in Biology from St. Mary’s College of Maryland.


SomaLogic completes agreement with Bristol-Myers Squibb for expanded access to SOMAmer reagents

SomaLogic completes agreement with Bristol-Myers Squibb for expanded access to SOMAmer reagents

1/11/2016

SomaLogic, Inc., announced today that it signed an agreement with the Bristol-Myers Squibb Company (NYSE-BMY) to provide expanded access to its proprietary SOMAmer reagents. The agreement covers both the 1,310 reagents available in the current public version of the SOMAscan assay, as well as custom SOMAmer reagents developed through SomaLogic’s SOMAmer Discovery Service specifically for Bristol-Myers Squibb. Specific terms of the agreement were not disclosed.

“We’re excited that Bristol-Myers Squibb has selected our SOMAmer reagents as tools for their drug discovery and development research,” said Byron Hewett, Chief Executive Officer of SomaLogic. “We look forward to a long and productive relationship between their scientists and ours as we work with them to integrate our technology into their research.”

SOMAmer (Slow Off-rate Modified Aptamer) reagents are a new generation of protein-binding molecules that combine the best properties of antibodies and traditional aptamers. Each SOMAmer reagent consists of a unique, short single-stranded DNA sequence that incorporates several bases that have been modified to include “protein-like” side chains. These unique chemical properties confer on SOMAmer reagents both high affinity and specificity for their target proteins as well as high durability and reproducibility, making them attractive reagents for virtually every laboratory assay that currently relies on antibodies.

To date, SomaLogic has developed thousands of SOMAmer reagents to a broad array of different proteins critical to normal and disease biology, and it continues to expand its publicly available SOMAmer reagent library at regular intervals. SomaLogic currently offers individual research users access to several hundred of its individual SOMAmer reagents, as well as the discovery of “fit-for-purpose” custom SOMAmer reagents through its SOMAmer Discovery Service.


VU University Medical Center Amsterdam Is First Continental European SOMAscan® Assay Site

VU University Medical Center Amsterdam Is First Continental European SOMAscan® Assay Site

12/17/2015

SomaLogic, Inc., and VU University Medical Center Amsterdam (VUmc), announced today that the SOMAscan assay, a breakthrough proteomics platform, will be deployed at VUmc for its scientists’ use in multiple different biomedical research projects. The assay will be performed under the direction of Dr. Charlotte E. Teunissen.

“We are delighted that VUmc will be the first institution in mainland Europe to offer its researchers access to this cutting-edge proteomics platform,” said Dr. Teunissen. “I believe that many critical new insights into biology and disease will come from our deployment of the SOMAscan assay.”

Compared to other current proteomic technologies, SomaLogic’s platform gives researchers unprecedented power for protein biomarker discovery, diagnostics development and pharmaceutical discovery and development. 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 are excited to partner with VUmc to expand access to our technology in Europe,” said Byron Hewett, Chief Executive Officer of SomaLogic. “Under the direction of Dr. Teunissen, we believe that the SOMAscan assay will accelerate many new discoveries and their applications in biomedical research at VUmc and beyond.”

VUmc is the first major research center on the European mainland to deploy the SOMAscan platform onsite. SomaLogic is continuing to expand access to the platform through additional placements to be announced over the next several months.

For more information about VUmc, please visit www.VUmc.com.

SomaLogic announces deployment of SOMAscan® assay to Beth Israel Deaconess Medical Center (BIDMC)

SomaLogic announces deployment of SOMAscan® assay to Beth Israel Deaconess Medical Center (BIDMC)

12/17/2015

SomaLogic announced today that the Beth Israel Deaconess Medical Center in Boston, MA, is the latest academic center to deploy the SOMAscan assay in support of the protein biomarker discovery and development efforts of its research community. The SOMAscan assay will be performed under the leadership of Towia Libermann, PhD, Director of the BIDMC Genomics, Proteomics, Bioinformatics and Systems Biology Center and the Dana–Farber/Harvard Cancer Center (DF/HCC) Cancer Proteomics Core.

“We are delighted to partner with Beth Israel Deaconess Medical Center, a world-class medical research center and teaching hospital of Harvard Medical School, to expand the availability of the SOMAscan assay to BIDMC’s incredible scientists and to investigators at other academic centers in Boston,” said Byron Hewett, Chief Executive Officer of SomaLogic. “Under the strong leadership of Dr. Libermann, we believe that this expanded access will lead to many new breakthrough discoveries in biology and medicine.”

Compared to other current proteomic technologies, SomaLogic provides researchers with unprecedented power for protein biomarker discovery, diagnostics development and pharmaceutical discovery and development. 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 over 1,300 different SOMAmer reagents, can efficiently, accurately and rapidly measure proteins across a wide range of concentrations in small volumes of multiple biological sample types.

BIDMC is the tenth named academic center to deploy the SOMAscan assay “in-house.” SomaLogic is continuing efforts to make its technology more easily available to researchers worldwide, and will announce additional new SOMAscan assay sites over the next several months.