SomaLogic lands UCHealth among first group of health care system collaborators

BOULDER — SomaLogic Inc. has begun rolling out its protein-analysis products to health care systems as part of its efforts to build up its revenues as it prepares to go public.

The Boulder company said in a statement Thursday that it will pilot its SomaSignal technology with four health care systems across the country, including UCHealth, Emory Healthcare in Atlanta, Intermountain Healthcare in Utah and CommonSpirit Health, the fourth-largest hospital chain in the U.S.

Those hospital systems will participate in SomaLogic’s trials to determine if its platform can help improve treatment outcomes for patients with Type 2 diabetes, heart disease and forms of cancer.

CEO Roy Smythe signalled that the company would begin offering the technology to physicians in an interview with BizWest last November, when the company raised a $121 million funding round.

SomaLogic develops platforms to read thousands of proteins in a patient’s blood or urine sample that may signal illnesses or future health conditions, and suggests potential treatments via machine learning.

The majority of its revenues so far come from pharmaceutical companies that use the technology to measure samples from volunteers in clinical trials.
The company is preparing to go public via a merger with special purpose acquisition company CM Life Sciences II (Nasdaq: CMIIU) in a deal that would add up to $686 million in cash to the company’s balance sheet. That deal values SomaLogic at $1.23 billion before the merger’s completion, which is expected to close some time in the third quarter of the year.

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