SomaLogic Closes Business Combination and Will Begin Trading Under the Ticker “SLGC” on the Nasdaq Stock Exchange
By: Colorado BioScience Association Date: 09/01/2021
SomaLogic, Inc., a leader in AI-data driven proteomics technology, today announced that it has completed its business combination with CM Life Sciences II, Inc. (Nasdaq: CMIIU), a special purpose acquisition company sponsored by affiliates of leading healthcare and life sciences fund advisors Casdin Capital and Corvex Management. Following the transaction, the combined company was renamed SomaLogic, Inc., and its Class A common stock and warrants will begin trading on the Nasdaq Global Market (“Nasdaq”) on September 2, 2021 under the symbols “SLGC” and “SLGCW,” respectively. The business combination and concurrent private placement were approved by CM Life Sciences II shareholders at its special meeting held on August 31st, 2021.
“We are both excited and prepared to begin a new chapter as a publicly traded company, accelerating our goal of leveraging proteomics to have an increasingly positive impact on human health and healthcare delivery,” said Roy Smythe, M.D., SomaLogic’s Chief Executive Officer. “Our innovative, differentiated platform has a multi-year track record of success, but our commercial ramp has only just begun. We intend to build on our first-mover advantage – working with research collaborators, diversifying our offerings through kits and other products for life sciences customers, and continuing to develop new diagnostic applications from our deep pipeline. SomaLogic had long been a leading, driving force in the evolution of proteomics, and we intend to remain at the forefront of that effort.”
The combined company will be led by industry veteran Dr. Roy Smythe as Chief Executive Officer. Following the business combination, the SomaLogic board will include new directors Troy Cox (Former CEO of Foundation Medicine and SVP of U.S. BioOncology for Genentech), Kevin Conroy (Chairman and CEO of Exact Sciences), Steve Quake (Lee Otterson Professor of Bioengineering and Professor of Applied Physics at Stanford University), Bob Barchi (distinguished Professor and former President of Rutgers University), and Ted Meisel (Executive Founder of AVIA Health Innovation, and Executive Chairman of WiserCare) who will join Chairman Chuck Lillis (Co-founder and Partner, LoneTree Capital), Roy Smythe (CEO), Anne Marguiles (Vice President & Chief Information Officer, Harvard University), Rick Post (Former President & CEO, Autobytel, Inc.) and Eli Casdin (Chief Investment Officer and Founder, Casdin Capital).
Find out more in the SomaLogic press release.