SomaLogic Inc. has added to the region’s largest venture-capital round of the year, adding $81 million to its prior haul of $121 million.
In a statement, the Boulder company said the additional funds were part of a second close of its Series A round this year, bringing its total fundraising haul to the year to $214 million in both cash and non-cash funding.
While SomaLogic has raised more than $380 million since it was founded in 1999, that amount was the amalgamation of single investments rather than a traditional venture-capital round led by multiple investors.
SomaLogic is developing blood-testing platforms to measure for thousands of proteins in a patient’s blood or urine sample that may signal current illnesses or risks for developing a future health condition.
In a previous interview with BizWest, CEO Roy Smythe said the company intends to use the funding primarily to bolster its offerings to clinical researchers, but is interested in promoting its technology directly to physicians and potentially directly to consumers.
The company has co-developed tests with pharmaceutical giants such as Amgen Inc. (Nasdaq: AMGN) and Novartis AG (NYSE: NVS) to monitor clinical drug trial patients.
“Proteomics will increasingly transform life sciences research and clinical care in ways previously unimagined and we are now positioned at the very forefront of that endeavor,” Smythe said in a statement.
The new funding extends SomaLogic’s position as the largest raiser of venture-capital money in Northern Colorado and the Boulder Valley so far this year, eclipsing Biodesix Inc. (Nasdaq: BDSX) raising a pre-fee total of $72 million in its initial public offering, JumpCloud Inc. raising $75 million in a Series E round and Fort Collins’ BillGo Inc. raising almost $60 million.
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