The company said it will use proceeds from the round, which was led by Casdin Capital, to expand and commercialize its SomaScan platform and SomaSignal tests.
The company announced that it would begin offering seven proteomic tests at Colorado doctors' practices with up to four more to launch by the end of the year.
The firm's plan to use its full 5,000-assay panel for clinical work has caused some to question how it can ensure all of these measurements are clinical grade.
Among the updates provided Wednesday, Quidel's CEO noted the firm's growing presence in point-of-care markets, while PerkinElmer discussed plans for its Vanadis test.
Excluding IPOs, the funding environment for private venture-backed financing Dx deals in the US and Europe was remarkably similar in 2018 to 2017, according to Silicon Valley Bank.
The parties will use Somalogic's SomaScan platform to investigate the ability of protein measurements to affect patient care in a variety of clinical areas.
The company aims to sell its clinical products not as discrete tests but as sets of "insights" derived from patient proteomic data collected using the platform.
Backed by €19 million in EU funding, the initiative, called [email protected], will create a research platform that could change the way cardiovascular diseases are diagnosed and treated.
