Standard BioTools Inc. (‘Standard BioTools’) develops, manufactures and sells a diversified range of instrumentation, consumables, and services that help scientists and biomedical researchers develop better therapeutics faster.
The company’s tools provide unique insights into human health, immune response, and disease state using its proprietary technologies, which serve applications in proteomics and genomics. The company works with academic, government, pharmaceutical, biotechnology, plant an...
Standard BioTools Inc. (‘Standard BioTools’) develops, manufactures and sells a diversified range of instrumentation, consumables, and services that help scientists and biomedical researchers develop better therapeutics faster.
The company’s tools provide unique insights into human health, immune response, and disease state using its proprietary technologies, which serve applications in proteomics and genomics. The company works with academic, government, pharmaceutical, biotechnology, plant and animal research, and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research, including oncology, immunology, and immunotherapy.
The company’s established portfolio includes essential, standardized next-generation solutions designed to help biomedical researchers develop better therapeutics faster. The company offers a diverse range of instrumentation, consumables, and services that generate high-quality data across early discovery, translational and clinical research. With advanced technologies in proteomics and genomics, the company empowers scientists to gain deeper biological insights, accelerate discoveries, and drive improved health outcomes across diverse therapeutic areas including immunology, oncology, neuroscience, cardiometabolic diseases and more.
On November 21, 2024, the company completed the acquisition of Sengenics Corporation Pte Ltd (‘Sengenics’). As part of this acquisition, Sengenics’ KREX precision antibody profiling services and kits were integrated into the SomaScan suite of solutions, expanding the company’s capabilities in autoantibody biomarker detection and protein interaction analysis for discovery, translational, and clinical research. This addition strengthens the company’s proteomics portfolio, particularly in biopharma and translational research, by combining proprietary immunoproteomic technology with its market-leading SomaScan platform. Available as both a lab service and a kit, KREX technology enables pharmaceutical companies and research institutions to advance disease understanding and accelerate biomarker discovery.
Platforms
The company has built a solid foundation supporting a differentiated portfolio of life science tools, offering broad multi-omic capabilities that drive innovation and accelerate the pace of drug development. The company’s solutions are designed to unlock complex biological information across plasma, single-cell and spatial proteomics, as well as genomic analyses, enabling researchers to explore disease mechanisms with unprecedented depth and precision. By integrating its advanced platforms – SomaScan, CyTOF, Hyperion, and Biomark – the company empowers scientists to generate high-content data across therapeutic areas, from immuno-oncology to neurology and infectious diseases. Each system is engineered to extract meaningful molecular signatures, providing researchers with the tools they need to decode intricate biological networks. Together, these technologies accelerate discovery, offering a comprehensive approach to understanding the complexities of health and disease.
SomaScan
The company’s SomaScan platform enables researchers to measure thousands of proteins simultaneously with exceptional specificity and sensitivity, providing deep insights into biological processes and disease mechanisms. The company’s SomaScan platform uses proprietary SOMAmer reagents – engineered protein-binding molecules that recognize specific protein targets with high affinity. These reagents facilitate precise quantification of proteins across a wide dynamic range, allowing researchers to uncover subtle biological changes that might otherwise be missed. Similar to transcriptomic and genomic approaches, high-throughput proteomics with the company’s SomaScan platform unlocks powerful biomarker discovery, disease profiling, and drug development opportunities. The SomaScan platform includes the company’s industry-leading assay, which profiles 11,000 protein measurements, covering 10,000 unique human proteins, from minimal sample volumes, and its data analytics solutions that translate complex protein data into actionable insights.
Proteomics research demands both breadth and precision, but many high-plex antibody assays struggle to maintain accuracy as they scale. The SomaScan Assay defies this limitation—expanding from 5,000 to 7,000 to 10,000 proteins while preserving measurement precision.
Building on the scalability and precision of the SomaScan Assay, the company offers a suite of high-performance proteomics solutions tailored for diverse research and clinical applications.
CyTOF
The company’s CyTOF technology platform transforms single-cell analysis by leveraging mass cytometry to detect and quantify over 50 intracellular and extracellular markers simultaneously, providing researchers with a deeper and more precise view of cellular function. Unlike fluorescence-based flow cytometry, which is limited by spectral overlap, CyTOF uses metal-tagged antibodies and time-of-flight mass spectrometry to eliminate signal interference and expand multiplexing capabilities. This breakthrough technology enables high-dimensional immune profiling, biomarker discovery, and functional cell analysis with unparalleled accuracy. The CyTOF platform includes instrumentation, optimized reagents, and powerful data analysis tools to accelerate discoveries in immunology, oncology, and beyond.
Hyperion
The company’s Hyperion spatial biology platform unlocks deeper insights into tissue organization by preserving spatial context while enabling high-dimensional molecular and proteomic analysis. Unlike traditional bulk or single-cell methods, the company’s platform utilizes Imaging Mass Cytometry with to simultaneously map multiple protein markers (up to 40+) across complex tissue landscapes. This approach allows researchers to explore cellular interactions, tissue architecture, and disease progression at unprecedented resolution. The company’s Hyperion platform includes instrumentation, multiplexed imaging capabilities, and powerful bioinformatics tools to drive discoveries in oncology, immunology, and neuroscience.
Biomark
The company’s Biomark X9 system redefines high-throughput genomics by delivering exceptional efficiency, precision, and scalability for qPCR applications. Designed for researchers who require robust multiplexing capabilities, the Biomark X9 system enables the simultaneous analysis of thousands of reactions in a single run. By leveraging advanced microfluidics technology, it significantly reduces reagent consumption while increasing throughput, making it an ideal solution for large-scale genomic studies, clinical research, and biomarker discovery. The Biomark X9 system integrates seamlessly with powerful data analysis tools, accelerating workflows and providing comprehensive insights with unmatched accuracy.
Market Opportunity
The company participates in emerging segments of the life sciences research and biopharmaceutical tools market focused on proteomics and genomics.
Proteomics
The company’s technologies aim to address a large opportunity across multiple proteomics-based markets and are uniquely designed to attract, capture, and retain customers representing a substantial share of each of these markets:
Flow Cytometry: A critical tool for single-cell analysis, enabling high-parameter protein characterization. The demand for multiplexed, high-resolution immune profiling is increasing, particularly in oncology and immunotherapy research.
Spatial Biology: Growing rapidly within tissue imaging and tumor microenvironment research, as researchers seek to map cellular interactions and disease progression at a deeper level. This market is expanding in both academic and clinical research applications.
Affinity Proteomics: A key sector in biomarker discovery, translational research, and clinical diagnostics, driven by increasing demand for high-throughput, cost-effective protein quantification in plasma and tissue samples.
Antibody Profiling: Critical for vaccine development, autoimmune research, and oncology, as researchers seek tools to characterize immune responses and identify therapeutic targets.
OEM Markets
The company also utilizes its proprietary microfluidics technology to collaborate with original equipment manufacturer (‘OEM’) providers to pursue market opportunities outside the company’s core markets. These OEM markets are highly varied, and represent significant expansion opportunities for the company’s technology.
Customers
The company sells its instruments and consumables for RUO to leading academic research institutions, translational research and medicine centers, cancer centers, clinical research laboratories, and biopharmaceutical, biotechnology, and plant and animal research companies.
Marketing, Sales, Service and Support
The company distributes its systems through its direct sales force and support organizations located in North America, Europe, and the Asia-Pacific; and through distributors or sales agents in European, Latin American, the Middle Eastern, and the Asia-Pacific countries. The company’s sales and marketing efforts are targeted at laboratory directors and principal investigators at leading academic, translational research, healthcare consortiums, and biopharmaceutical companies who need reliable life science automation solutions to power their disease research with the goal of providing actionable insights.
The company’s sales process often involves numerous interactions and demonstrations with multiple people within an organization. Some potential customers conduct in-depth evaluations of the system, including running experiments on the company’s system and competing systems. In addition, in most countries, sales to academic or governmental institutions require participation in a tender process involving preparation of extensive documentation and a lengthy review process. As a result of these factors and the budget cycles of the company’s customers, its sales cycle, the time from initial contact with a customer to its receipt of a purchase order, can often be 12 months or longer.
Merger with SomaLogic, Inc.
On January 5, 2024, the company completed its merger with SomaLogic, Inc. (‘SomaLogic’), making it the company’s wholly owned subsidiary. SomaLogic specializes in proprietary affinity-based proteomics, and the merger with SomaLogic (the ‘Merger’) broadens the company’s portfolio while strengthening its ability to drive innovation in proteomics research.
Collaborations
Illumina Cambridge, Ltd. In connection with the Merger, the company assumed a multi-year Collaboration Agreement with Illumina Cambridge, Ltd. (‘Illumina’), originally entered into by SomaLogic and Illumina in December 2021 (the ‘Illumina Agreement’), to jointly develop and commercialize co-branded kits to combine Illumina's Next Generation Sequencing (‘NGS’) technology with SomaScan technology (the ‘Co-Branded Kits’).
NEC Corporation. Additionally, in connection with the Merger, the company assumed a joint development and commercialization agreement with NEC Solution Innovators, Ltd. (‘NEC’), originally entered into by SomaLogic and NEC in March 2020, to develop and commercialize SomaScan services in Japan.
New England Biolabs, Inc. Also in connection with the Merger, the company assumed a non-exclusive licensing agreement with New England Biolabs, Inc. (‘NEB’), originally entered into by SomaLogic and NEB in September 2022, whereby the company provides a license to use certain proprietary information and know-how relating to SomaLogic's aptamer technology.
Laboratory Operations
The company performs all its SomaScan Services and SomaSignal tests in the company’s laboratory. The company’s laboratory is certified under the Clinical Laboratory Improvement Amendments of 1988 (‘CLIA’) and accredited by the College of American Pathologists (‘CAP’). The company’s laboratory is certified for performance of high complexity testing by the Centers for Medicare & Medicaid Services (‘CMS’) in accordance with the CLIA and is licensed by certain other states requiring out-of-state licensure, including California, Maryland, Pennsylvania and Rhode Island.
The company performs all its KREX microarray assay services in the company’s laboratory facility located in Kuala Lumpur, Malaysia, and it performs CyTOF and Hyperion lab services in the company’s Markham, Canada facility.
The company’s existing laboratory facilities are adequate to meet its business needs for at least the next 12 months.
Intellectual Property
Patents
The company has developed a portfolio of issued patents and patent applications directed towards commercial products and technologies in development. As of December 31, 2024, the company owned or licensed approximately 1,020 patents and had over 520 pending patent applications worldwide, including patents and pending patent applications acquired from SomaLogic and Sengenics
Trademarks
Standard BioTools, the Standard BioTools logo, Fluidigm, the Fluidigm logo, 48.Atlas, Access Array, Advanta, Advanta EASE, Atlas, Biomark, ‘Bringing new insights to life’ C1, Callisto, Cell-ID, CyTOF, CyTOF XT, the CyTOF XT logo, D3, Delta Gene, Direct, Digital Array, Dynamic Array, EP1, EQ, FC1, Flex Six, Flow Conductor, FluiDesign, Helios, High-Precision 96.96 Genotyping, HTI, Hyperion, Hyperion+, IMC, Imaging Mass Cytometry, Immune Profiling Assay, Juno, Maxpar, MCD, MSL, Nanoflex, Open App, Pathsetter, Polaris, qdPCR 37K, Script Builder, Script Hub, Singular, SNP Trace, SNP Type, ‘Unleashing tools to accelerate breakthroughs in human health’, X9 Real Time PCR System, Xgrade, SomaLogic, SomaScan, SOMAmer, SomaSignal, Power by SomaLogic, DataDelve, KREX, i-Ome, OncoREX, and CardioDM are trademarks or registered trademarks of the company or its affiliates in the United States and/or other countries.
License Agreements
Genomics Technologies: The company’s core genomics technology originated at the California Institute of Technology (Caltech) in the laboratory of Professor Stephen Quake, who is a co-founder of Fluidigm (Standard BioTools Inc.). The company’s license genomics technology from Caltech, Harvard University, and Caliper Life Sciences, Inc., a PerkinElmer Health Sciences, Inc. (‘PerkinElmer’) company.
The company exclusively licenses from Caltech relevant patent filings relating to developed technologies that enable the production of specialized valves and pumps capable of controlling fluid flow at nanoliter volumes.
The company has entered into a co-exclusive license agreement with Harvard University for the license of relevant patent filings relating to genomics technology.
Proteomics: Some of the intellectual property rights covering the company’s mass cytometry products were subject to a license agreement (the ‘Original License Agreement’) between Standard BioTools Inc. (formerly Fluidigm Corporation) and PerkinElmer. Under the Original License Agreement, the company received an exclusive, royalty bearing, worldwide license to certain patents owned by PerkinElmer in the field of inductively coupled plasma (ICP)-based proteomics, including the analysis of elemental tagged materials in connection therewith (the Patents), and a non-exclusive license for reagents outside the field of ICP-based mass cytometry.
Contemporaneously with the purchase of the Patents, the company entered into a license agreement with PerkinElmer pursuant to which it granted PerkinElmer a worldwide, non-exclusive, fully paid-up license to the Patents in fields other than (i) ICP-based mass analysis of atomic elements associated with a biological material, including any elements that are unnaturally bound, directly or indirectly, to such biological material (Mass Analysis) and (ii) the development, design, manufacture, and use of equipment or associated reagents for such Mass Analysis.
InstruNor AS: In January 2020, the company completed the acquisition of InstruNor AS (‘InstruNor’).
Government Regulation
Under the Clinical Laboratory Improvement Amendments of 1988 (CLIA), the company is required to hold a certificate applicable to the categories of laboratory tests it performs and to comply with standards applicable to the company’s operations, including test processes, personnel, facilities administration, equipment maintenance, recordkeeping, quality systems and proficiency testing.
The company performs its diagnostic tests like the SomaSignal assays in the company’s Boulder, Colorado CLIA-certified and CAP-accredited clinical laboratory, and although the performance of such tests is primarily regulated under CLIA, as administered by CMS, as well as by applicable state laws, as described above, the FDA has asserted its authority over the safety and efficacy of such LDTs, including through premarket review, and the controls necessary to maintain assay quality in recently promulgated regulations.
The company’s proteomics or genomics technologies or its laboratory assays are not regulated by FDA, regulated as class I or class II devices, or subject to enforcement discretion with respect to FDA’s device requirements, advertising for such services and products is subject to federal truth-in-advertising laws enforced by the Federal Trade Commission (the ‘FTC’), as well as comparable state consumer protection laws.
Environmental Matters
The Restriction on the Use of Certain Hazardous Substances in Electrical and Electronic Equipment Directive (‘RoHS’), the Registration, Evaluation, Authorisation, and Restriction of Chemicals (‘REACH’) and the Waste Electrical and Electronic Equipment Directive (‘WEEE’), enacted in the European Union, regulate the use of certain hazardous substances, notification of customers of the presence of any substances of very high concern in products, and require the collection, reuse, and recycling of waste from, products the company manufactures. Certain products sold in these countries are subject to RoHS, REACH and WEEE requirements.
Seasonality
The company’s fourth quarter revenues are often the highest, primarily due to seasonality since many of its customers tend to spend budgeted money before the end of their calendar fiscal year-end. The company’s revenue in the first quarter is generally sequentially lower than the prior year’s revenue in the fourth quarter (for the year ended December 2024).
History
The company was founded in 1999. It was incorporated in California in 1999. The company was formerly known as Fluidigm Corporation and changed its name to Standard BioTools Inc. in 2022.
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