US-based personalised health information platform SomaLogic closed a $200m round on Wednesday following an extension provided by Nan Fung Life Sciences, a subsidiary of conglomerate Nan Fung, and Madryn Asset Management.
Digital health technology developer iCarbonX anchored the round, having invested in January 2017. The size of its investment was undisclosed at the time, though a regulatory filing indicates SomaLogic had raised $163m as of July 2017.
SomaLogic has developed technology that measures changes in thousands of proteins in the human body, using the data to provide real-time, personalised insights into, and recommendations for, a user’s wellbeing and health.
The SomaScan platform is currently able to analyse 5,000 proteins in a single sample and has already processed 150,000 samples across more than 50 diseases and conditions.
The company is targeting an additional one million samples by the end of 2020. It will use the capital from the latest round, which grew its total funding to more than $330m, to drive company growth.
SomaLogic closed a $16.5m funding round featuring pharmaceutical firm Novartis in 2014. It raised $15m in equity funding from clinical testing services provider Quest Diagnostics in 2005 and an undisclosed sum from Otsuka Pharmaceutical in 2008 through collaboration agreements.
SomaLogic secured $23m in a 2000 series B round backed by financial services firm Société Générale, Skye Associates, ProQuest Investments, New West Mezzanine and Lombard Odier. Its investors also include Stronghold Capital and Butcher Holdings.
Al Reynolds, chief executive of SomaLogic, said: “These new investments by Nan Fung and Madryn, two elite, global healthcare investors, are yet another huge vote of confidence in our strategic direction and the deep intrinsic value of our technology.
“We are delighted that they recognise the huge potential of our technology to radically transform healthcare, and are joining us as valued partners to accelerate that goal.”