SomaLogic Inc (SLGC) News

Over 5% of trading float is short.

I am shocked there is no one commenting on this board. Somalogic is expanding rapidly and is on The Cutting Edge of New Era biology. Cathie Wood bought just under a quarter million shares of this company a week ago. Apparently she is very positive about this company!

11.15 up 8% on today's news.

SomaLogic (NASDAQ:SLGC), a leader in data-driven proteomics technology, today announced a worldwide strategic collaboration with Illumina, a global next-generation sequencing technology leader. The multi-year partnership agreement will bring together genomics and proteomics technology platforms in a major commercial partnership to better enable and empower proteomics and multi-omics research worldwide. As part of the agreement:

In partnership, the companies will develop co-exclusive, co-branded, next-generation sequencing (NGS)-based proteomics products.
The companies will leverage the power and scale of Illumina’s global commercial infrastructure and SomaLogic’s unique proteomics platform, which includes its proprietary synthetic aptamer reagents capable of measuring and identifying 7,000 human proteins, unique bioinformatics tools and capabilities, and a clinical proteomics database, believed to be the largest in the world.
“This is truly a transformational partnership that will democratize and accelerate our understanding of the human proteome,” said SomaLogic Chief Executive Officer Roy Smythe, M.D. “It definitively signals that the era of proteomics is here and that SomaLogic, and now Illumina, will lead that era. The combined capabilities of our two companies—the scientific and commercial leaders in both next-generation genomic sequencing and proteomics—will inevitably have a profound impact on the understanding, avoidance and treatment of human disease. This has always been our goal at SomaLogic, and we could not be more excited to be working together with Illumina to continue to fulfill it—more quickly and more comprehensively.”

The partnership brings together unique capabilities from each company for customers in research, clinical and applied markets. Illumina is a global leader in DNA sequencing and array-based technologies. SomaLogic has a 20-year history of using slow off-rate modified aptamers, called SOMAmer® reagents, and its proprietary SomaScan® Platform to provide highly reproducible measurements of circulating proteins.

As part of the agreement, Illumina will develop and deploy NGS-based protein identification and measurement tools into laboratories worldwide, and facilitate the development and use of high-plex protein pattern recognition tests. SomaLogic pioneered this diagnostic approach, launching its SomaSignal™ test program in 2019. The company now offers 12 laboratory-developed protein pattern recognition tests across a diverse set of human conditions and diseases.

“Proteins play a central role in cellular function and health, and NGS can support a greater understanding of this role by unlocking biological insights at scale,” said Alex Aravanis, Chief Technology Officer at Illumina. “We are committed to increasing the utility of NGS, and our partnership with SomaLogic will enable existing and future NGS customers to conduct even more sophisticated, high throughput multiomic studies.”

SomaLogic can currently run 7,000 protein measurements on a single 55 microliter plasma or serum sample. The company has plans to expand their reagents and assay to measure 10,000 proteins in the next year. SomaLogic has run more than 450,000 samples to date.

The financial terms of the deal were not disclosed.

SomaLogic, Inc., formerly CM Life Sciences II Inc., is a protein biomarker discovery and clinical diagnostics company. The Company develops slow-off rate modified aptamers (SOMAmers), which are modified nucleic acid-based protein binding reagents that are specific for their cognate protein. The Company's products include SomaScan and SomaSignal, which are available as laboratory developed tests (LDTs) used in obtaining proteomics information from patients, and monitoring patients' physiological states. The Company's SOMAmers/SomaScan technology enables researchers to analyze various biological samples for protein biomarker signatures, which can be utilized in drug discovery and development. Biomarker discoveries from SomaScan provides diagnostic applications in various areas of diseases, including cardiovascular and metabolic disease, nonalcoholic steatohepatitis and wellness.