BOULDER — SomaLogic Inc., on Tuesday announced that the company has raised up to $60.5 million in equity and debt financing from Visium Healthcare Partners to help the growing Boulder-based firm accelerate the rollout of its diagnostic tests to hospitals and medical clinics.
Specifics of the funding related to milestones and the size of the equity stake were not disclosed.
SomaLogic makes a SOMAscan assay that can be used to analyze a variety of biological samples and quickly and accurately read out thousands of proteins present for the purposes of diagnosing and understanding the biology of diseases.
Founded in 2000, SomaLogic began marketing the SOMAscan assay to universities and pharmaceutical companies in early 2012 to aid in their research-and-development activities. But the new funding will aid SomaScan in its push to sell its first tests for diagnostic uses over the next few months.
“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,” Visium partner Avi Amin said in a release.
Founded in 2000, SomaLogic has been growing rapidly, adding 60 employees over the past two years. The company now employs about 160 people, about 150 of whom are in Boulder. The company has now raised about $250 million since its founding — about two-thirds of which has come in the form of equity and the other third in contract research and development and milestone payments.
In addition to the expansion into diagnostics, the company is getting ready to expand its physical presence in Boulder. The company occupies a pair of buildings on Wilderness Place and part of a third. The company is planning to exit the third building in June and expand into a larger space in another building close by that will bring SomaLogic’s total space to 75,000 square feet.
“We basically have a little campus we’re building here is what it amounts to,” company spokesman Fintan Steele said.