Standard BioTools Gets $30M Illumina Buyout Ahead of Treeline Merger
Standard Bio has also agreed to sell its mass cytometry business, including the CyTOF and Hyperion product lines, to newcomer Multiplex Bio.
Standard BioTools has received approximately $30 million from Illumina as part of the $350 million deal for assets associated with SomaLogic, completed in January.
On July 28, Standard BioTools said it received the funds as part of a negotiated buyout of the 2026 earnout and all future royalty payments tied to the deal. The payment will count toward Standard BioTools’ pro forma net cash position at the close of its pending merger with Treeline Biosciences, which factors into that deal’s exchange ratio.
The announcement came alongside two other updates tied to the Treeline merger: Standard BioTools has agreed to sell its Mass Cytometry business, including the CyTOF and Hyperion product lines, to Multiplex Bio — a new company led by a cadre of biotech industry veterans, in a deal valued at up to $10 million. Separately, the US Federal Trade Commission granted early termination of its antitrust waiting period for the Treeline merger on July 21.
The Treeline transaction is expected to close by the end of 2026, subject to stockholder approval.