Standard BioTools Purchases the Carterra® LSA-XT System to Accelerate Data Delivery and Provide Greater Validation to SomaScan Customers
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 LSAXT 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 LSAXT 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 LSAXT 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 LSAXT 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 LSAXT 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.
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Investor Contact:
David Holmes
Gilmartin Group LLC
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