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Somalogic Adds $81M to Series A Round, Bringing Total to $214M

NEW YORK – Proteomics firm Somalogic said Tuesday that it has added $81 million to its current Series A round, bringing total proceeds from the round to $214 million.

The company said it plans to use the money to continue building out and commercialize its SomaScan proteomics platform.

The funding adds to a $121 million raise the company announced last month. Both portions of the Series A round were led by life science investment firm Casdin Capital and included Farallon Capital Management and Foresite Capital, funds and accounts advised by T. Rowe Price Associates, Blue Water Life Science Advisors, Madryn Asset Management, Fiscus Ventures and Reimagined Ventures, Monashee Investment Management, Mossrock Capital, Soleus Capital, and others.

Investors joining the second close included Janus Henderson Investors, Redmile Group, Logos Capital, Revelation Partners, Ziff Capital Healthcare Ventures, Boston Millennia Partners, Millennium Management, Novartis, Amgen, Intermountain Ventures, and NEC Solution Innovators.

"We are very excited to have these financing partners for the next phase of our strategic growth — a syndicate that unequivocally represents the best of those involved in supporting and growing life sciences tools and leading edge diagnostics companies, and several that represent the growing market for our products as well," Somalogic CEO Roy Smythe said in a statement.

Somalogic's SomaScan platform uses the company's aptamer-based affinity reagents called Somamers to measure proteins in patient samples, typically blood. The platform recently expanded to measure 7,000 proteins per sample, and Somalogic believes that analyzing this number of proteins across large numbers of samples will provide it with the data it needs to identify correlations between protein levels and patient health that it can package as tests.

Cowen served as sole placement agent to Somalogic for the private placement, and Reed Smith served as legal counsel for the transaction.