SOURCE: SomaLogic

SomaLogic

SOURCE: Visium Healthcare Partners

Visium Healthcare Partners

March 01, 2016 08:00 ET

SomaLogic Raises Up to $60.5 Million From Visium Healthcare Partners to Support Strategic Growth Initiatives

BOULDER, CO and NEW YORK, NY--(Marketwired - March 01, 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 even more quickly realize our ultimate goal of delivering much-needed new diagnostics tests to the clinic."

About SomaLogic

SomaLogic is transforming healthcare by applying our proprietary protein-measurement technology to the development of new diagnostic tests that deliver a higher quality of life by detecting diseases at their earliest stages and monitoring general wellness. Our ultimate goal is the "Wellness Chip," a single cost-effective and reliable blood test for multiple diseases and conditions that will enable healthcare providers to precisely monitor each individual's state of health and wellness in real time. Our technology also has multiple potential applications in both life sciences and therapeutics, and it is now available to the entire biomedical scientific community for their own research needs. For more information, visit www.somalogic.com.

About Visium

Visium Healthcare Partners is a healthcare investment fund focused on structured investments in growth-stage healthcare companies that have innovative, commercially-validated products and technologies. The fund targets investments of $20 million to $100 million or more and seeks to develop customized financing solutions for its partners in both public and private markets worldwide. Visium Healthcare Partners is managed by an affiliate of Visium Asset Management, LP, an alternative investment firm with approximately $8 billion in assets under management and approximately 170 employees across offices in New York, London, and San Francisco.

For additional information, please visit www.visiumfunds.com/funds.aspx or email vhp@visiumfunds.com.

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