SomaLogic signs deal with Novartis

BOULDER - Clinical diagnostic company SomaLogic Inc. has signed a multiyear research agreement with Novartis International AG to help that drug company accelerate drug development.

Terms of the agreement were not disclosed. Boulder-based SomaLogic conducts research to develop diagnostic products for cancer, among other things.

"We are excited by this opportunity to work with Novartis' world-class researchers to help them define robust biomarkers, validate novel drug targets and even develop companion clinical diagnostics," Larry Gold, chief executive of SomaLogic, said in a statement.

SomaLogic's proprietary technology is used to develop protein analysis tools for the life sciences community. The tools are used to help researchers working in diagnostic and therapeutic applications.

SomaLogic previously announced in July that it would license a key research product to New England Biolabs Inc. based in Ipswich, Massachusetts.

Privately held SomaLogic was founded 11 years ago with technology developed at the University of Colorado at Boulder campus. The company received $15 million in venture capital funding in fourth quarter 2010, according to a MoneyTree Report produced by PriceWaterhouseCoopers LLP and the National Venture Capital Association.