Treeline Biosciences will go public through a reverse merger with Standard BioTools, with the combined company operating under the Treeline Biosciences name and trading on the Nasdaq as TRLN. The all-stock deal also includes plans to discontinue Standard BioTools’ mass cytometry and microfluids businesses, with Standard BioTools exploring divestiture options. Under the agreement, Standard BioTools is valued at its $450 million net cash position plus an additional $10 million, and the combined company expects more than $900 million in cash at closing, funding operations through 2029. Treeline shareholders are set to hold about 84% of the combined entity. The merger is positioned as a runway extension for Treeline’s precision oncology programs, while Standard BioTools’ remaining assets would determine an additional contingent value right tied to any sale proceeds and earned payouts related to Illumina’s SomaLogic acquisition.