Proteomics biotech SomaLogic and biological research equipment company Standard BioTools are consolidating to become a multi-omics research tool provider. The all-stock merger is estimated to be worth over $1 billion.
The new company will distribute its multi-omics tech to around 50 countries and will have facilities in California, Colorado, Massachusetts, Canada and Singapore, the companies revealed Wednesday.
Standard BioTools’ stock price $LAB is down 18.1%, while shares of SomaLogic $SLGC were only off by 0.87%.
Michael Egholm The merger comes with executive changes. Michael Egholm will be the CEO of the new company, having served as CEO of Standard BioTools since its rebrand from Fluidigm in 2022. SomaLogic’s interim CEO Adam Taich will become the new company’s chief strategy officer.
Standard BioTools chief financial officer…
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