SomaLogic Announces Novartis Agreement Extension, Equity Investment
SomaLogic, Inc., announced today that Novartis has extended its multi-year research agreement for the development and application of SomaLogic’s unique proteomics technology to Novartis’ drug discovery and development efforts. Novartis will also take an equity position in SomaLogic under the agreement extension.
Under the previous collaboration agreement, scientists at the Novartis Institutes for BioMedical Research (NIBR) and SomaLogic worked together to build an enhanced proprietary version of SomaLogic's SOMAscan™ proteomics assay for NIBR. The collaboration also included development of specific novel SOMAmer® (Slow Off-rate Modified Aptamer) binding reagents for multiple preclinical and clinical applications in NIBR’s research and development portfolio. The collaboration extension announced today will enhance and expand these efforts in addition to the equity investment in SomaLogic. Other specific terms of the agreement were not disclosed.
“Our ongoing relationship with Novartis is a model for how we seek to develop strong scientific collaborations that drive new discoveries and build value for both parties,” said Byron Hewett, Chief Executive Officer of SomaLogic. “We are delighted that Novartis has decided to continue our work together, and take it to an even higher level.”
Compared to other current proteomic technologies, SomaLogic's offerings provide researchers with unprecedented power for protein biomarker discovery, diagnostics development, and pharmaceutical discovery and development. SOMAmer reagents, which are at the center of SomaLogic’s proteomics platform, are a new class of superior protein-binding reagents that combine the best properties of both monoclonal antibodies and traditional aptamers. They have wide applicability in many current preclinical and clinical analytical assays, including quantitative high-content screening, targeted panels, flow cytometry, histochemistry, functional assays, and biophysical methods. SomaLogic’s commercially available SOMAscan assay, which incorporates 1129 different SOMAmer reagents, can efficiently, accurately, and rapidly measure proteins across a wide range of concentrations in small volumes of multiple biological sample types.