SomaLogic raises $16.5 million

BOULDER – Biotech company SomaLogic Inc. has closed a new $16.5 million funding round, though a company spokesman on Monday said he couldn’t comment on whether the round was related to a research agreement extension with pharmaceutical company Novartis announced last month.

SomaLogic specializes in biomarker discovery and clinical diagnostics, making clinical diagnostic products that quickly measure hundreds of proteins present in the body at a given moment with just a couple of drops of blood or urine.

The funding round was disclosed in a document filed with the Securities and Exchange Commission on Friday. Two investors contributed to the round, for which the first sale was Oct. 17, according to the filing.

SomaLogic spokesman Fintan Steele declined to identify the investors.

Boulder-based SomaLogic on Oct. 20 announced that Novartis had taken an equity stake in the company as the two extended and expanded their research agreement from 2011 for SomaLogic to build a version of its proteomics assay that Novartis could use for its drug discovery and development efforts. Terms of that deal were not disclosed.

Steele said the new funding would be used for “continuous expansion of what we’re doing.”

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