SomaLogic, a US-based proteomics therapy developer backed by several corporate investors, raised $121m yesterday in a series A round led by life sciences investment firm Casdin Capital.
Farallon Capital Management, Foresite Capital, Blue Water Life Science Advisors, Madryn Asset Management, Fiscus Ventures, Reimagined Ventures, Monashee Investment Management, Mossrock Capital, Soleus Capital and funds and accounts advised by T. Rowe Price also took part in the round.
Founded in 2000, SomaLogic has developed technology that can track precise changes in an individual’s proteins over a length of time, allowing it to provide detailed health information.
The round boosted SomaLogic’s overall funding to more than $485m, it said, adding that it expects to secure more series A financing in the next three months. The cash will support the strengthening and commercialisation of its proteomic products.
The company closed a $200m funding round in early 2018 featuring Nan Fung Life Sciences, a subsidiary of property conglomerate Nan Fung, as well as digital health technology producer iCarbonX and Madryn Asset Management.
Pharmaceutical firm Novartis was among the investors in a $16.5m round in 2014 that coincided with its extension of a strategic partnership with SomaLogic three years earlier.
Pharmaceutical company Otsuka had invested in the company in 2008, three years after laboratory services provider Quest Diagnostics had supplied a similarly undisclosed amount.
Financial services firm Société Générale had joined Skye Associates, ProQuest Investments, New West Mezzanine and Lombard Odier in a $23m series B round for SomaLogic in 2000. Stronghold Capital and Butcher Holdings are among its early backers.
