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Genomics has played a substantial role in progressing biological discoveries over the last decade. A multitude of companies, like Invitae, have excelled at deriving advanced biological insights from our genes, which contain the essential information to build the proteins that support healthy bodily functions. However, despite the fact that approximately 95% of FDA-approved drugs target proteins, relatively minimal advancements have been achieved in the field of proteomics. Proteomics studies the interactions, function, composition, and structures of proteins and their influence on cellular activities. According to the National Library of Medicine, proteomics actually provides a better understanding of organism functions and structures compared to genomics.
However, unlike the structure of DNA which is highly stable, proteins often have variable, unstable chemical structures. There are also upwards of 20,000 different protein structures that may be present in a sample collected from the human body, which is substantially more difficult than collecting and analyzing the relatively simple structure of nucleic acid required for genomic analysis. Such factors have hindered the advancement of proteomics, leaving a potentially untapped market for companies that are able to overcome these challenges, like SomaLogic.
SomaLogic has built an integrated proteomics platform that leverages the company’s proprietary assay technology, its in-house protein database, and artificial intelligence and machine learning capabilities. The company’s proteomics database already contains over 4.2 billion protein measurements, while its clinical database comprises over 675,000 participant-years of clinical follow-up data. SomaLogic uses its platform to support the research and development activities of research and clinical customers, which it accomplishes through four product offerings.
The SomaScan Assay can measure between 7,000 and 10,000 protein targets in a single sample. A distinguishing feature of SomaLogic’s assay service compared to other proteomic platform competitors is that the company also provides access to individual SOMAmer reagents for a range of follow-up studies. These SOMAmer reagents are synthetic single-stranded DNA sequences that bind to specific protein targets to improve detection and measurability.
Through the SomaScan Certified Sites program, SomaLogic allows global companies, academic labs, and government institutions to run its proteomics platform at their own location with the same equipment SomaLogic uses to assess assay data.
SomaSignal tests are multi-application protein-pattern recognition tests that can help to facilitate clinical trials, such as by assessing the therapeutic effects of pharmaceutical drugs. These tests are designed to support health systems in allocating resources, personalize therapies, and better risk assess patients.
SomaLogic licenses out its SOMAmer reagents and also allows access to the technological system it uses to discover reagents, called Systematic Evolution of Ligands by Exponential Enrichment (“SELEX”).
Despite having multiple sources of revenue, SomaLogic has realized net losses each year and has incurred a substantial accumulated deficit since its inception. To help combat this trend, the company initiated an organizational restructuring and workforce reduction at the end of 2022. SomaLogic’s net losses have been stimulated by significant investment in laboratory processes and commercial infrastructure, including the acquisition of DNA nanotechnology innovator, Palamedrix, Inc., in August 2022.
Profitability aside, SomaLogic’s offerings have attracted the interest of some major partners. The company has a range of licensing and collaboration agreements in place with companies like Illumina, Amgen Inc., NEC Solution Innovators, Ltd., and Novartis Pharma AG.
SomaLogic has realized some incredible advancements with its platform capabilities and continues to push new boundaries. The company is clearly an industry leader in the cutting-edge field of proteomics and has drawn the interest of many major entities looking to leverage its products and services. Furthermore, its offerings are protected by a comprehensive portfolio of approximately 950 patents and various trademarks. If SomaLogic can continue to improve its platform functionality and attract high-value partners, an enhanced future of proteome-leveraged drug research and development likely won’t be far off.