SomaLogic Raises $81 Million in Series A Funding for Proteins Measurement Software

SomaLogic, a human blood proteins measurement software, raised an additional $81 million in a new Series A funding round.

The additional funding round brings Series A to $214 million.

The SomaLogic human blood proteins measurement software measures human proteins in a single blood sample and uses computer modeling to translate those protein measurements into meaningful, personalized health information for individual health.

The Series A financing round was led by life science investor Casdin Capital, with participation from Farallon Capital Management, Foresite Capital, funds and accounts advised by T. Rowe Price Associates, Blue Water Life Science Advisors, Madryn Asset Management, Fiscus Ventures, and Reimagined Ventures (affiliates of Magnetar Capital), Monashee Investment Management, Mossrock Capital, Soleus Capital, and others.

In this second close, additional financial investors include Janus Henderson Investors, Redmile Group, Logos Capital, Revelation Partners, Ziff Capital Healthcare Ventures, Boston Millennia Partners, and Millennium Management. Strategic investors from several organizations that span the current and future proteomics market include 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,” said SomaLogic Chief Executive Officer Roy Smythe, M.D. “Proteomics will increasingly transform life sciences research and clinical care in ways previously unimagined, and we are now positioned at the very forefront of that endeavor.”

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

“This financing positions SomaLogic to continue to lead in the exploration of the proteome through its powerful technology platform,” said Chief Investment Officer and Casdin Founder Eli Casdin. “We’re excited to partner with the team to build off the decades of trailblazing science and validating partnerships with world-class collaborators to expand access to the technology and to drive value to the clinical and life science ecosystem.”

Digital Health companies in the first nine months (9M) of 2020 raised $10.3 billion.