Received $350 Million in upfront cash at closing; Up to $425 Million in total proceeds inclusive of near-term earnout payments Approximately $550 Million in cash & cash equivalents on balance sheet at close, excluding potential future earnouts, to fuel inorganic growth strategy Continuing Operations on track to achieve positive adjusted EBITDA in 2026 BOSTON, Mass., Jan. 30, 2026 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (NASDAQ: LAB) (the “Company” or “Standard BioTools”) today announced it has completed ...

Core Viewpoint - Standard BioTools Inc. announced the strategic sale of SomaLogic to Illumina for a total of up to $425 million, which includes an upfront payment of $350 million and potential milestone payments of up to $75 million, simplifying its operating structure and enabling adjusted EBITDA break-even [1][2][5]. Financial Details - The transaction includes an upfront cash payment of $350 million at closing and up to $75 million in near-term milestone payments based on specified revenue targets for fiscal years 2025 and 2026 [5][6]. - Standard BioTools will retain a 2% royalty on net revenues from SOMAmer-based NGS library preparation kits for 10 years post-transaction [6]. Strategic Implications - The sale is expected to provide Standard BioTools with at least $550 million in cash at closing, allowing for future inorganic growth strategies and long-term value creation [1][2]. - The transaction is part of a disciplined M&A strategy aimed at acquiring high-potential assets with validated science and a clear commercialization path [3][4]. Operational Impact - The sale significantly simplifies the operational and organizational structure of Standard BioTools, facilitating a path to achieve adjusted EBITDA break-even, which is a key priority for the company [2][4]. - The management team believes that disciplined operations and focused execution can unlock meaningful value in the life sciences sector [2]. Regulatory and Advisory Aspects - The transaction is subject to regulatory approvals and is expected to close in the first half of 2026 [7]. - Centerview Partners LLC is serving as the financial advisor to Standard BioTools, with additional legal counsel from Freshfields LLP and Richards, Layton & Finger, P.A. [8].