Standard BioTools Purchases the Carterra® LSA-XT System to Accelerate Data Delivery and Provide Greater Validation to SomaScan Customers

Rhea-AI Summary

Standard BioTools announced the acquisition of the Carterra LSAXT system to enhance the validation of its SomaScan Platform. This high-throughput proteomics technology will benefit researchers by providing detailed information on protein binding and biomarker characterization.

By analyzing the kinetic properties of SOMAmer Reagents, the LSAXT system aims to improve the quality of the SomaScan 11K Assay reagents and support future content expansion. This collaboration will accelerate data delivery and offer greater validation for Standard BioTools' customers.

The LSAXT system is chosen for its efficiency in delivering extensive data rapidly, enabling precise identification of binding sites and aiding in the discovery of new biomarkers and diagnostic tests.

Positive

• Acquisition of the Carterra LSAXT system enhances the quality of SomaScan reagents.
• The LSAXT system accelerates data delivery, providing better validation for customers.
• Improves precision and specificity in protein interaction studies.
• Supports future content expansion of the SomaScan Platform.
• Collaboration with Carterra is positioned to enhance biomarker discovery and diagnostic test development.

Negative

• Initial investment in the Carterra LSAXT system could impact short-term financials.
• Reliance on the LSAXT system's performance to meet customer expectations.
• Potential risk if the LSAXT system does not deliver expected improvements in data quality.

Insights

Tech Expert

The acquisition of the Carterra LSAXT system by Standard BioTools is a significant step toward enhancing the capabilities of their SomaScan Platform. The LSAXT system is known for its high-throughput capabilities, allowing researchers to obtain more data in a shorter amount of time. This acquisition will enable more precise protein-binding measurements, providing deeper insights into the interactions between SOMAmer Reagents and various proteins. This technological advancement could potentially accelerate the discovery of new biomarkers, which is important for the development of diagnostic tests and therapeutic interventions.

The integration of the LSAXT system into the SomaScan Platform will likely improve the validation of the SomaScan 11K Assay reagents. Researchers can expect more reliable data on protein binding kinetics, which is essential for understanding the specificity and precision of these reagents. This enhancement not only boosts the credibility of the SomaScan Platform but also positions Standard BioTools as a more reliable partner for researchers in the proteomics field.

Market Research Analyst

From a market perspective, the purchase of the Carterra LSAXT system positions Standard BioTools to offer a more robust and validated product to its customers. This move could significantly enhance the company's competitive edge in the proteomics market, where precise and high-throughput data are paramount. With the increased validation and data delivery capabilities, Standard BioTools could attract a broader range of customers, including those in pharmaceutical and diagnostic sectors that require high-precision proteomic analysis.

Moreover, the collaboration with Carterra could open new avenues for strategic partnerships and joint ventures, further expanding the company's market reach. The investment in advanced technology aligns with the current trend of adopting automation and high-throughput systems in the biotech industry, which could lead to increased market share and revenue growth in the long term.

Financial Analyst

Financially, the acquisition of the Carterra LSAXT system likely represents a significant capital expenditure for Standard BioTools. However, the long-term benefits could outweigh the initial costs. By enhancing the capabilities of the SomaScan Platform, Standard BioTools can potentially increase its customer base and revenue streams. This move also signals the company's commitment to investing in advanced technologies to stay competitive in the market.

In the short term, investors might view this acquisition as a positive indicator of the company's growth strategy. It shows a proactive approach to enhancing product offerings and improving market position. In the long term, the enhanced validation and data delivery capabilities could lead to increased customer retention and higher profit margins, contributing positively to the company's financial health.

SOUTH SAN FRANCISCO, Calif and SALT LAKE CITY, May 28, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq:LAB) today announced that it has purchased the LSA^XT system from Carterra^®, a leading provider of high-throughput large and small molecule screening and characterization solutions. This instrument will enable Standard BioTools™ to further validate its SomaScan^® Platform by measuring the kinetic properties of SOMAmer^® Reagents and deliver precise information about protein binding and biomarker characterization to customers.

The SomaScan Platform is a high-throughput proteomics technology from Standard BioTools that provides a vast data landscape for researchers to explore by enabling comprehensive analysis of proteomic biomarkers. The Carterra LSA^XT system will be used to verify the quality of SomaScan 11K Assay reagents and augment exploration of the platform’s future content expansion, further enhancing the value that SomaScan provides to researchers and scientists.

“We’re excited to be collaborating with Standard BioTools and the important work they are doing to validate the SomaScan Platform,” said Josh Eckman, Chief Executive Officer at Carterra. “Measuring the kinetic properties of their reagents will give Standard BioTools a deep understanding of how their reagents interact with proteins, making the SomaScan Platform an even more powerful tool for their customers.”

The LSA^XT was chosen for its ability to deliver more data in a fraction of the time of other instruments. Standard BioTools research teams will use this capability to identify precise binding sites on proteins for their SOMAmer Reagents. These teams are also interested in identifying proteins that bind to more than one SOMAmer Reagent, creating avenues for biomarker discovery and the development of diagnostic tests.

“We are focused on giving our customers complete confidence in the precision and specificity of our SomaScan Platform,” said Michael Egholm, President and Chief Executive Officer of Standard BioTools. “The Carterra LSA^XT will provide a deeper understanding of protein interactions that will allow us to continue to deliver that confidence and continue to improve our offerings.”

About Standard BioTools Inc.

Standard BioTools Inc. (Nasdaq:LAB), the parent company of SomaLogic Inc. and previously known as Fluidigm Corporation, has an established portfolio of essential, standardized next-generation technologies that help biomedical researchers develop medicines faster and better. As a leading solutions provider, the company provides reliable and repeatable insights in health and disease using its proprietary mass cytometry and microfluidics technologies, which help transform scientific discoveries into better patient outcomes. Standard BioTools works with leading 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. Learn more at standardbio.com or connect with us on X, Facebook^®, LinkedIn, and YouTube™.

For Research Use Only. Not for use in diagnostic procedures.

Limited Use Label License and other terms may apply: www.standardbio.com/legal/salesterms. Patent and License Information: www.standardbio.com/legal/notices. Trademarks: www.standardbio.com/legal/trademarks. Any other trademarks are the sole property of their respective owners. ©2024 Standard BioTools Inc. (f.k.a. Fluidigm Corporation). All rights reserved.

About Carterra, Inc.

Carterra^® is privately held and is the leading provider of high-throughput technologies designed to accelerate and improve the discovery of novel therapeutic candidates. Carterra’s LSA^® instrument, software, and consumables for biotherapeutic discovery and characterization deliver up to 100 times the throughput of existing platforms in 10% of the time while using only 1% of the sample required by other systems. The LSA combines patented microfluidics technology with real-time high-throughput Surface Plasmon Resonance (HT-SPR) and industry-leading data analysis and visualization software to revolutionize mAb screening. The new LSA^XT provides enhanced optics to enable additional applications in biotherapeutic discovery and characterization. Carterra, Inc. is based in Salt Lake City, Utah, and has Customer Experience Centers in San Francisco, Salt Lake City, Boston, Manchester, England, and Munich, Germany. Carterra products are available in Asia-Pacific and Oceania through our exclusive distributor, Revvity (previously PerkinElmer). For additional information, please visit www.carterra-bio.com.

Forward-Looking Statements 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding future financial and business performance; expectations, operational and strategic plans; deployment of capital; market and growth opportunity and potential; and the potential to realize the expected benefits of the Company’s operational restructuring plan, including the potential for it to drive long-term profitable growth. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including, but not limited to, risks that the anticipated benefits of the operational restructuring plan, including the potential for it to drive long-term profitable growth, may not be fully realized or may take longer to realize than expected; risks that the Company may not realize expected cost savings from its restructuring, including the anticipated decrease in operational expenses, at the levels it expects; possible restructuring and transition-related disruption, including through the loss of customers, suppliers, and employees and adverse impacts on the Company’s development activities and results of operation; restructuring activities, including the Company’s subleasing plans, customer and employee relations, management distraction, and reduced operating performance; risks that internal and external costs required for ongoing and planned activities may be higher than expected, which may cause the Company to use cash more quickly than it expects or change or curtail some of the Company’s plans, or both; risks that the Company’s expectations as to expenses, cash usage, and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than our assumptions; changes in the Company’s business or external market conditions; challenges inherent in developing, manufacturing, launching, marketing, and selling new products; interruptions or delays in the supply of components or materials for, or manufacturing of, the Company’s products; reliance on sales of capital equipment for a significant proportion of revenues in each quarter; seasonal variations in customer operations; unanticipated increases in costs or expenses; continued or sustained budgetary, inflationary, or recessionary pressures; uncertainties in contractual relationships; reductions in research and development spending or changes in budget priorities by customers; uncertainties relating to the Company’s research and development activities, and distribution plans and capabilities; potential product performance and quality issues; risks associated with international operations; intellectual property risks; and competition. For information regarding other related risks, see the “Risk Factors” section of the Company’s annual report on Form 10-K filed with the SEC on March 1, 2024, and in the Company’s other filings with the SEC. These forward-looking statements speak only as of the date hereof. The Company disclaims any obligation to update these forward-looking statements except as may be required by law. 

Media Contacts:        
Cheri Salazar
(408) 594-9400
csalazar@carterra-bio.com                        

Emilia Costales
720 798 5054                                
emilia.costales@standardbio.com                 

Investor Contact:

David Holmes
Gilmartin Group LLC
(332) 330-1031
ir@standardbio.com

FAQ

What is the purpose of Standard BioTools purchasing the Carterra LSAXT system?

The purchase aims to enhance the validation of the SomaScan Platform by providing detailed data on protein binding and biomarker characterization.

How will the Carterra LSAXT system benefit Standard BioTools' customers?

It will offer greater validation, faster data delivery, and improved precision in protein interaction studies, thus enhancing customer confidence.

What specific improvements does the LSAXT system bring to the SomaScan Platform?

The LSAXT system improves the quality of SomaScan 11K Assay reagents and supports future content expansion by providing detailed information on protein interactions.

Why was the Carterra LSAXT system chosen by Standard BioTools?

The LSAXT system was selected for its ability to deliver extensive data rapidly, which aids in precise identification of protein binding sites.

What impact might the acquisition of the LSAXT system have on Standard BioTools' financials?

The initial investment in the LSAXT system could impact short-term financials, but it is expected to provide long-term benefits in data quality and customer validation.