Biotechnology Acquisitions in Colorado

Illumina has completed its acquisition of SomaLogic from Standard BioTools for $350 million in cash plus up to $75 million in near-term performance-based payments, adding SomaLogic's proteomics capabilities to Illumina's multiomics strategy. The deal expands Illumina's ability to integrate SomaLogic's SomaScan platform with its NGS ecosystem, DRAGEN software, and Illumina Connected Multiomics to accelerate proteomics at scale while Standard BioTools receives upfront cash, potential earnouts and ongoing royalties.

Energy Fuels Inc. acquired RadTran LLC, a private specialist in radioisotope separation, to accelerate development and production of medical isotopes (notably Ra-226 and Ra-228) used in targeted alpha therapies for cancer. The deal (closed August 16, 2024) paid $1.5M cash, $1.5M in shares, a 2% royalty on future radium revenues and up to $14M in additional cash/shares tied to milestones; RadTran's CEO Saleem Drera joins Energy Fuels to lead radioisotope efforts.

BroadOak Capital Partners provided $2.0 million of growth capital to KromaTiD to accelerate commercialization, support product development (including dGH In-Site and dGH SCREEN) and expand capacity to meet rising demand. KromaTiD, a Longmont, Colorado-based provider of single-cell genomic structural analysis for gene editing and gene therapy applications, will use the funding to grow its services and product offerings to biopharma and research customers.

Edmonton-based CanBiocin Inc. acquired all assets of Denver-based Pure Cultures Inc., effective April 30, 2020, including species-specific probiotics, a U.S. patent and product brands Flock Vitality and Pig Vitality. The acquisition establishes CanBiocin operations in the United States and brings Pure Cultures founder Steve Kazemi into CanBiocin as Chief Commercialization Officer; deal terms were not disclosed.

NewLeaf Brands Inc. signed an LOI and subsequently a definitive agreement in April 2020 to acquire Mydecine Group, a Colorado-headquartered company focused on medicinal and infused mushroom cultivation, processing, product development and R&D. The deal contemplated the purchase of 100% of Mydecine for USD $850,000 payable in NewLeaf common shares; NewLeaf later operated the business as a wholly-owned subsidiary and rebranded to Mydecine Innovations Group.