Standard BioTools Sells Mass Cytometry Unit, Illumina Buys Out Contingent Payments to Clear Path for Treeline Merger
LAB sits 18% above its 52-week low of $0.703.
Summary
Standard BioTools is divesting its mass cytometry business and Illumina is buying out related contingent payments, removing obstacles to the reverse merger with Treeline Biosciences. The sale streamlines the company ahead of the transformative deal, which values Treeline at $2.5B and shifts focus to clinical-stage oncology. This follows the June 8 merger announcement and recent S-4 filing detailing Treeline's promising TLN-121 data. The transactions eliminate legacy liabilities and simplify the corporate structure, directly enabling the merger's completion. On July 24, 2026, Standard BioTools entered into a termination, waiver and release agreement with Illumina, as disclosed in an SEC filing. With the stock at $0.83 and a recent Nasdaq delisting notice, these steps are critical to closing the deal and potentially regaining compliance.
At the time of this announcement, LAB was trading at $0.83 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $303.2M. The 52-week trading range was $0.70 to $1.72. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.