STANDARD BIOTOOLS INC.

EX-99.1 · tm2617100d1_ex99-1.htm

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 tm2617100d1_ex99-1.htm
 EXHIBIT 99.1

 Exhibit 99.1

 Standard BioTools and Treeline Biosciences Announce
Merger Agreement

 Combined company to operate as Treeline
Biosciences, advancing a deep pipeline of small molecule inhibitors, protein degraders and targeted
therapy antibody-drug conjugates

 Company to be led by Treeline CEO and
co-founder Josh Bilenker, MD, and experienced team of proven drug developers

 Treeline’s pipeline includes three Phase
1 programs with multiple anticipated clinical data readouts beginning in 2027

 Well capitalized with over $900 million in
cash expected at closing, providing runway into 2029

 Supplemental investor materials, including management
remarks, posted on Standard BioTools website

 BOSTON, Mass. and WATERTOWN, Mass., June 8, 2026 –
Standard BioTools Inc. (NASDAQ: LAB) (“Standard BioTools”) and Treeline Biosciences, Inc. (“Treeline”) today
announced they have entered into a definitive merger agreement to combine in an all-stock transaction. Upon completion of the transaction,
which is expected to occur in the second half of 2026, the combined company is expected to operate under the name Treeline Biosciences
and trade on the Nasdaq under the ticker symbol “TRLN.”

 Since its founding in 2021, Treeline has established a productive in-house
discovery and development organization that has brought three programs into Phase 1 development with a fourth planned clinical entry in
2026. These clinical-stage programs address molecular targets in oncology and have expected interim data readouts starting in 2027. Three
additional programs are expected to enter the clinic in 2027 and 2028 in oncology, neurology and immunology.

 The proposed transaction would add approximately $450 million in net
cash from Standard BioTools to the combined company's balance sheet. At closing, the combined company is expected to have more than $900
million in pro-forma cash, which is expected to fund operations into 2029. Treeline previously raised approximately $1.2 billion from
a syndicate of leading life sciences investors.

 "2027 and 2028 should be transformative years for Treeline, with
interim data expected from our clinical programs and several new programs beginning clinical testing,” said Josh Bilenker, MD, co-founder
and Chief Executive Officer of Treeline. “After just five years of company operations, today’s announcement reflects the productivity
and talents of our team. Operating as a public company with a strengthened balance sheet will help us build an enduring biopharma company.”

 “Over the last several months, our Board and management team
conducted a comprehensive review of potential growth initiatives and determined that a combination with Treeline is the best path forward
to maximize value for our shareholders,” said Michael Egholm, PhD, President and Chief Executive Officer of Standard BioTools. “Standard
BioTools was founded with a purpose to accelerate breakthroughs in human health and help develop better drugs faster. Through disciplined
execution, we have strategically transformed our portfolio, meaningfully improved our financial profile and strengthened our balance sheet.
Treeline has assembled an exceptional team with a proven track record in drug development and built a diversified portfolio of precision
medicines focused on some of the most important opportunities in oncology and beyond. Deploying our capital behind this team and pipeline
gives our stockholders exposure to a catalyst-rich portfolio with significant potential for value creation in both the near- and long-term.”

 Treeline’s Lead Programs and Pipeline

 Treeline’s pipeline includes small molecule inhibitors, protein degraders and targeted therapy antibody-drug conjugates (TT-ADCs).
The unique demands of each target determine which drug modality is used. Treeline currently has three programs in Phase 1 clinical trials.
Each was selected based on a robust data package that informed a clear development plan. Additional details regarding Treeline’s
lead programs and pipeline can be found in the supplemental investor materials posted on the Investor Relations page of Standard
BioTools’s website.

 · TLN-121 is an oral protein degrader designed to remove BCL6 from cancer cells
while avoiding off-targets that could cause toxicity. This profile maximizes its potential for single-agent activity, while maintaining
the ability to combine well with standard-of-care lymphoma therapies. In an ongoing Phase 1 study, there is early clinical evidence of
broad single-agent activity and tolerability in heavily pretreated B-cell and T-cell lymphoma patients.

 · TLN-372 is an oral inhibitor of KRAS. KRAS mutations are present in roughly
one in four adult cancers, including lung, pancreatic, colorectal and gynecological cancers. Through novel chemistry, TLN-372 was designed
to achieve deep and sustained pan-KRAS inhibition, while sparing HRAS and NRAS. This profile was chosen because avoiding HRAS and NRAS
mediated toxicities could improve its potential to combine with chemotherapy, immunotherapy, anti-EGFR antibodies and other modalities,
while preserving dose intensity, in early lines of therapy. In an ongoing Phase 1 study, free drug exposures are consistent with preclinical
predictions. As such, the program is on track to demonstrate the therapeutic potential of pan-KRAS inhibition which is not pharmacologically
limited.

 · TLN-254 is an oral inhibitor of EZH2, which regulates gene expression and
is frequently overactive or mutated in cancer. TLN-254 was in-licensed following Phase 2 evaluation in China, where it was subsequently
approved for commercial sale. The program was selected based on its combination potential with TLN-121 for the treatment of aggressive
lymphomas. In a Treeline conducted Phase 1 study, single-agent activity and safety have been consistent with published data from China
in heavily pretreated T-cell lymphoma patients.

 · A fourth program, TLN-499, is expected to enter Phase 1 in 2026. TLN-499
is an oral protein degrader that selectively targets BCL-XL. Certain cancer cells rely on BCL-XL and other pro-survival proteins to prevent
apoptosis, suggesting that antagonizing BCL-XL could meaningfully enhance the activity of other drug classes such as chemotherapy and
targeted agents.

 · Treeline also has a robust discovery pipeline spanning oncology, neurology
and immunology that is expected to produce three additional expected clinical entries in 2027 and 2028. Treeline plans to provide additional
guidance on these programs and the existing clinical portfolio in the first quarter of 2027.

 Standard BioTools Pursuing Strategic Options to Maximize Value of
Mass Cytometry and Microfluidics Businesses

 Treeline does not intend to operate Standard BioTools’s Mass
Cytometry and Microfluidics businesses, and Standard BioTools is exploring a range of options, including divestitures, to maximize the
value of these businesses for Standard BioTools stockholders.

 Dr. Egholm continued, “Our Mass Cytometry and Microfluidics
businesses provide our customers with next-generation solutions designed to help biomedical researchers develop better therapeutics faster.
We believe that pursuing independent options for each business is the most effective path forward for our people and technology.”

 There can be no assurances that any transaction relating to either
the Mass Cytometry or the Microfluidics businesses will be consummated.

 Transaction Details, Timing and Approvals

 The transaction, which is structured to be tax-free to Standard BioTools
and Treeline shareholders, values Standard BioTools at net cash delivered at closing plus $10 million, which is estimated to be $460 million.
The transaction also provides for a closing dividend to pre-combination Standard BioTools stockholders of one contingent value right (“CVR”)
per share representing the right to receive certain payments in the form of shares of the combined company based on the amount of net
proceeds, if any, received by the combined company related to pre-merger legacy assets, including the Mass Cytometry and Microfluidics
businesses and up to $50 million in earnout payments related to Illumina, Inc.’s previously completed acquisition of Standard
BioTools’s SomaLogic business.

 At the closing of the proposed combination, pre-merger Standard BioTools
stockholders are expected to own approximately 16% of the combined company, and pre-merger Treeline stockholders are expected to own approximately
84% of the combined company, with such ownership percentages being subject to adjustment based on the amount of Standard BioTools’
net cash at closing, as determined in accordance with the terms of the merger agreement.

 The transaction has been approved by both the Standard BioTools Board
of Directors and a Special Committee of the Standard BioTools Board of Directors. The transaction has been approved by the Treeline Board
of Directors and stockholders.

 The transaction is expected to close in the second half of 2026, subject
to receipt of required regulatory approvals, approval by Standard BioTools stockholders and other customary closing conditions. In connection
with the transaction, certain stockholders of Standard BioTools have agreed to vote shares in favor of the transaction.

 Management

 Josh Bilenker, MD, co-founder and Chief Executive Officer of Treeline,
will lead the combined company. Dr. Bilenker previously founded and led Loxo Oncology through the development of three FDA-approved
medicines and its $8 billion acquisition by Eli Lilly. Prior to Loxo, he held roles at Aisling Capital and the U.S. Food and Drug Administration.

 Jeff Engelman, MD, PhD, co-founder and Chief Scientific Officer of
Treeline, will serve as CSO of the combined company. Dr. Engelman previously led an academic research laboratory at Massachusetts
General Hospital before joining Novartis Institutes for Biomedical Research as global head of oncology.

 Spencer Smith, MBA, Chief Financial Officer of Treeline will serve
as CFO of the combined company. Prior to Treeline, he was SVP and CFO at Sentio Investments and CFO at Sentio Healthcare Properties, a
public, non-traded REIT. Prior to Sentio, he held roles at Aisling Capital and McKinsey & Company.

 Following closing of the transaction, the Board of Directors of the
combined company will be composed of 12 directors, including 10 Treeline designees and two Standard BioTools designees.

 Investor Materials

 Prepared remarks from Standard BioTools and Treeline management and
associated presentation materials are available on the Standard BioTools investor relations website.

 Advisors

 Centerview Partners LLC is serving as financial advisor and Freshfields
LLP and Richards, Layton & Finger, P.A. are serving as legal counsel to Standard BioTools. UBS Investment Bank is serving as
financial advisor to the Special Committee of the Standard BioTools Board of Directors.

 Wedbush Securities Inc. is acting as exclusive financial advisor and
Fenwick & West LLP is serving as legal counsel to Treeline.

 About Treeline Biosciences, Inc.

 Treeline is a clinical-stage biopharma company that aspires to make
medicines at the highest level. We match compelling biological targets with proven drug approaches, including small molecule inhibitors,
protein degraders, and targeted therapy antibody-drug conjugates, by integrating in-house R&D with leading-edge computational tools.
We choose programs with the potential to redefine the treatment of serious diseases. We are led by a team with deep experience across
drug discovery and development, working across the U.S. and Europe. Our pipeline spans oncology, neurology and immunology. Learn more
at treeline.bio.

 About Standard BioTools Inc.

 Standard BioTools, Inc. (NASDAQ: LAB), is committed to setting
the new standard in the life science tools industry through strategic consolidation, best-in-class operations and a world class management
team. The Company's established portfolio includes essential, standardized next-generation solutions designed to help biomedical researchers
develop better therapeutics faster. 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: standardbio.com/legal/terms-and-conditions/ .

Patent and License Information: standardbio.com/legal/notices .

 Trademarks: standardbio.com/legal/trademarks . Any other
trademarks are the sole property of their respective owners. ©2026 Standard BioTools Inc. (f.k.a. Fluidigm Corporation).
All rights reserved.

 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 the expected timing of the closing
of the transaction; the potential benefits of the proposed transaction; the prospective performance and outlook of the combined company’s
business, performance and opportunities; the ability of the parties to complete the proposed transaction; the competitive position of
the combined company; the expected post-closing ownership of the combined company; the expected management team and Board of Directors
of the combined company; the combined company's expected cash at closing and cash runway; Treeline’s product candidates and the
potential benefits thereof and potential new indications; Treeline’s expectations with regard to the timing and availability of
data from its current and planned clinical trials and preclinical studies; the timing of IND filings and planned clinical entries for
Treeline’s preclinical programs; the expected development activities and related timing of such activities of the combined company’s
product candidates; the timing of the announcement of trial results of the combined company’s product candidates; the potential
market size and size of the potential patient populations for Treeline’s product candidates and any future product candidates; as
well as any assumptions underlying any of the foregoing. The words “believe,” “may,” “will,” “estimate,”
 “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to
identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions.

 Forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties
related to: (i) the ability to obtain the requisite approval from stockholders of Standard BioTools; (ii) the risk that the
proposed transaction may not be completed in a timely manner or at all; (iii) the possibility that competing offers or acquisition
proposals will be made; (iv) the possibility that any or all of the various conditions to the consummation of the proposed transaction
may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities;
(v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including
in circumstances that would require either party to pay a termination fee or other expenses; (vi) the effect of the pendency of the
proposed transaction on the parties’ ability to retain and hire key personnel, their ability to maintain relationships with customers,
suppliers and others with whom they do business, their business generally or their stock price; (vii) risks related to diverting
management’s attention from ongoing business operations or the loss of one or more members of the management team; (viii) the
risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification
and liability; (ix) the parties’ ability to realize the anticipated benefits of the proposed transaction; (x) the risk
that the parties may assume unexpected liabilities and expenses as a result of the transaction; (xi) the risk that the potential
dispositions of Standard BioTools’ Mass Cytometry and Microfluidics businesses may not be completed on favorable terms or at all;
(xii) the risk that Standard BioTools could fail to maintain the listing of its common stock on Nasdaq; (xiii) uncertainties
as to the potential for development, commercialization and other benefits of any of Treeline’s product candidates; and (xiv) uncertainties
as to Treeline’s anticipated preclinical and clinical drug development activities and related timelines, including the expected
timing for commencing clinical trials and announcing data and other clinical results. For information regarding other related risks, see
the “Risk Factors” section of Standard BioTools’ Annual Report on Form 10-K for the year ended December 31,
2025, filed with the SEC on March 16, 2026, Standard BioTools’ most recent Quarterly Report on Form 10-Q and in Standard
BioTools’ other filings with the SEC. Should any of these risks or uncertainties materialize, actual results could differ materially
from expectations. These forward-looking statements speak only as of the date hereof. Neither Standard BioTools nor Treeline assumes any
obligation to, and does not currently intend to, update any such forward-looking statements except as may be required by law.

 Additional Information and Where to Find It

 This communication may be deemed to be solicitation material in respect
of the proposed transaction involving Standard BioTools and Treeline. In connection with the proposed transaction and required stockholder
approval, Standard BioTools intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement
on Form S-4 that will include a proxy statement and a prospectus of Standard BioTools. This communication is not a substitute for
the proxy statement/prospectus or any other document that Standard BioTools may file with the SEC or send to its stockholders in connection
with the proposed transaction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10
of the U.S. Securities Act of 1933, as amended. Any definitive proxy statement/prospectus (if and when available) will be mailed to stockholders
of Standard BioTools.

 INVESTORS AND STOCKHOLDERS OF STANDARD BIOTOOLS ARE URGED TO READ THE
PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS, SUPPLEMENTS AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT
MATERIALS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED
TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT STANDARD BIOTOOLS, TREELINE AND THE PROPOSED TRANSACTION. Copies of
the materials filed or to be filed by Standard BioTools with the SEC may be obtained free of charge on Standard BioTools’ Investor
Relations website at https://investors.standardbio.com or by contacting Standard BioTools’ Investor Relations department at ir@standardbio.com.
In addition, all of those materials will be available at no charge on the SEC’s website at www.sec.gov.

 Participants in the Solicitation

 Standard BioTools, Treeline and certain of their respective directors,
executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies of Standard
BioTools stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed
information regarding the names, affiliations and interests of Standard BioTools’ executive officers and directors in the solicitation
by reading Standard BioTools’ proxy statement for its 2026 annual meeting of stockholders (including under the headings “Management
and Corporate Governance,” “Executive Officer and Director Compensation,” “Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and
Related Transactions, and Director Independence”), its Annual Report on Form 10-K for the fiscal year ended December 31,
2025, subsequent Quarterly Reports on Form 10-Q and Standard BioTools’ other filings with the SEC. Information regarding the
persons who may, under SEC rules, be deemed participants in the solicitation of Standard BioTools stockholders in connection with the
proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth
in the registration statement on Form S-4 and other relevant materials when filed with the SEC in connection with the proposed transaction.
Information regarding Treeline’s directors and executive officers who may be deemed participants in the solicitation will be contained
in the registration statement on Form S-4 when it becomes available. These documents are or will be available free of charge at the
SEC’s website at www.sec.gov or by going to Standard BioTools’ Investor Relations website at http://investors.standardbio.com
or contacting Standard BioTools’ Investor Relations department at ir@standardbio.com.

 Contacts:

 Treeline Biosciences

 IR:

 Sarah McCabe

 samccabe@treeline.bio

 Media:

 FGS Global

 TreelineBiosciences@fgsglobal.com

 Standard BioTools

 IR:

 ir@standardbio.com

 Media:

Dan Moore / Nick Lamplough / Tali Epstein

Collected Strategies

 LAB-CS@collectedstrategies.com

EX-99.2 · tm2617100d1_ex99-2.htm

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 tm2617100d1_ex99-2.htm
 EXHIBIT 99.2

 Exhibit 99.2

 Operator

 · Thank you for joining the Standard BioTools and Treeline Biosciences merger
announcement conference call. I would now like to turn the call over to John Graziano, Standard BioTools’ Vice President of Investor
Relations. Please go ahead.

 Forward-Looking Statements – John

 · Thank you, operator. Joining me on today’s call is Michael Egholm,
Standard BioTools’ President and CEO and Josh Bilenker, CEO and Co-Founder of Treeline.

 · Before we begin, I would like to remind everyone that certain statements
made on this call may be considered forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995 These
forward-looking statements involve a number of assumptions, risks, and uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements.

 · These risk factors are discussed in detail in our press release and investor
presentation and other filings that we make with the Securities and Exchange Commission. We undertake no obligation to update or revise
any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by
law.

 · With this, I will turn it over to Michael.

 Introduction/Rationale - Michael Egholm

 · Thank you, John. I first want to walk through the process conducted by the
management team and the Standard BioTools Board of Directors that led to this transaction and why we believe this is the best path forward
to maximize value for Standard BioTools shareholders.

 · We will then review the terms of the transaction, and Josh Bilenker, Treeline’s
Co-Founder and CEO, will provide an overview of Treeline, the company’s differentiated approach to drug development, its clinical-stage
pipeline and the value creation opportunity ahead.

 · Standard BioTools was founded with a thesis that thoughtful capital allocation
combined with disciplined execution and a lean operating model can unlock shareholder value by accelerating breakthroughs in human health.

 · Since inception, we have remained focused on those core principles, acquiring
a portfolio of innovative tools that uncover unique insights and help accelerate drug discovery, while improving our profitability profile.
We have also taken a capital markets approach to our portfolio, for example, divesting SomaLogic to Illumina to unlock value and strengthen
our balance sheet.

 · When we completed the transaction with Illumina earlier this year, we embarked
on an exhaustive review of strategic opportunities, evaluating assets of various sizes and profiles ranging from smaller bolt-on acquisitions
to more transformative transactions and everything in between. And we did not limit ourselves to just Life Science Tools but rather focused
on a broad range of opportunities to maximize shareholder returns, through a disciplined framework to identify attractive assets at the
right valuation where we could create value.

 Page 1 of 8

 · Out of this process, we came to the conclusion that deploying our capital
in a merger with Treeline is the best path forward to maximize value for our shareholders. Treeline has assembled an exceptional team
of proven drug developers and built a compelling portfolio of precision medicines spanning multiple therapeutic areas and modalities with
the potential to address significant areas of unmet need.

 · We believe the combination of financial strength, a pipeline with near- and
long-term catalysts and the successful track record of this management team provides our shareholders with a compelling opportunity for
value creation that exceeds what we believe we could achieve on a standalone basis.

 · Let me now walk through the key terms of the transaction. This is an all-stock
transaction whereby current Standard BioTools shareholders are expected to own approximately 16% and current Treeline shareholders are
expected to own approximately 84% of the combined company.

 · The new company will operate as Treeline and the current Treeline team will
run the business with Josh and Jeff’s continued leadership. Given our ownership position in the new company, two Standard BioTools
directors will join the combined company’s Board.

 · Treeline does not intend to operate our Mass Cytometry and Microfluidics
business units. As such, we are in the process of exploring a range of opportunities, including divestures, to maximize the value of the
two businesses.

 · Our Mass Cytometry and Microfluidics businesses are differentiated technologies
that allow our customers to uncover unique insights into human health. We believe pursuing independent options for each business is the
most effective path forward for our people, the technology, and our customers.

 · Any incremental net proceeds received after the Treeline merger from our
legacy assets, including the Mass Cytometry and Microfluidics businesses and up to $50 million in earnout payments and royalties related
to our completed SomaLogic transaction with Illumina, will be returned to pre-merger Standard BioTools stockholders through a contingent
value right to be settled in additional shares of the combined company.

 · The Standard BioTools Board of Directors and a Special Committee of the Standard
BioTools Board of Directors has approved of this transaction.

 · Finally, we have signed voting agreements with certain of our shareholders
and expect to complete the transaction in the second half of 2026, once we have received all of the required approvals.

 · With that, let me turn the call over to Josh to share more about Treeline.

 Page 2 of 8

 Treeline Overview – Josh Bilenker

 Good morning, everyone. I want to begin by
taking a moment to thank Michael, the management team and the Board of Directors at Standard BioTools for their support and belief in
our team and our pipeline. I look forward to working for our collective shareholders and leading the combined company towards many exciting
near- and long-term goals.

 Our merger with Standard BioTools strengthens
an already strong balance sheet as we enter 2027 and 2028. We believe these will be transformative years for Treeline, as you will hear
in a moment when I talk about the pipeline. We expect proforma combined cash at close to exceed $900 million, which will support interim
data readouts for our clinical-stage programs, as well as support several exciting new clinical trial starts.

 Let me start with some back story. I'm a trained
oncologist, and have dedicated my career to bringing new medicines from scientific concept to FDA approval. In the past, I worked
as an FDA reviewer and VC investor. For the last 13 years I have been a biotech founder and operating CEO. Before Treeline, I founded
and led Loxo Oncology as CEO, guiding the company from inception to its sale to Eli Lilly in 2019. After the sale, I served briefly
at Lilly as head of a newly formed oncology unit before starting Treeline. The thing I’m most proud of from that time is that all
three Loxo programs became FDA approved medicines.

 Five years ago, Jeff Engelman and I co-founded
Treeline with the goal of creating an enduring biopharma company that could credibly and repeatedly discover drugs against high-value
molecular targets in oncology and other serious diseases. Jeff was on the founding scientific advisory board of Loxo. He worked at NIBR
Novartis running oncology R&D. Jeff’s ability to identify new drug opportunities, recruit a superlative team, design experiments
and adapt to new data are just some of his unique talents.

 When we first launched Treeline, we asked
investors for a long cash runway that wasn’t contingent on interim milestones so that we could build a deep pipeline from scratch.
We pitched a company discovery model built around multiple teams of internal domain experts who had a track record of delivering clinical
candidates. We believed then, and even more so now, that drugging difficult targets requires hand-built solutions. Today, Treeline has
sub-teams with proven expertise in small molecule inhibitors, protein degraders and targeted therapy ADCs. This menu of technologies allows
us to consider a wide berth of molecular targets. More about that later.

 Our platform story is repeatability. We want
to be known as a company that picks good targets, nominates great development candidates and makes thoughtful development decisions. We
want to be a company that proves it can do those things over and over. We use some very cutting-edge methods in the lab and in silico
to get things done, but we don’t speak about them loudly. We want to be defined by our clinical data, not our enabling tools.

 In just five years, we have generated an exciting
pipeline of 10 plus home grown programs. I’ll talk through some of them now, and I encourage you to reference the accompanying slide
deck for additional details.

 The first program I will talk about is TLN-121,
an oral protein degrader targeting BCL6. BCL6 is a lineage transcription factor that has long been a target of interest in lymphoma. Published
data show that traditional inhibitors targeting BCL6 do not sufficiently suppress the target to cause tumor regression. Our team used
a degrader approach and put forward a chemical series that had an unusual combination of potency, selectivity, and oral pharmacology.
TLN-121 was designed to minimize the degradation of off-target proteins, which we believe should lead to improved tolerability in patients.
Given the many active available therapy classes for lymphoma, combinability was an important design feature for ‘121. Combination
regimens that include chemotherapy, CD-19 and CD-20 targeted therapies, CAR-T and other drug classes will likely be important to maximizing
the potential of ‘121, or any new anti-lymphoma agent.

 Page 3 of 8

 We are currently enrolling a Phase 1 trial for TLN-121 in patients
with B-cell and T-cell lymphoma. ‘121 has shown compelling single-agent activity and a favorable safety profile in heavily pretreated
patients. In our first 19 efficacy evaluable patients, we have seen tumor regressions at all doses and across diffuse large B-cell lymphoma,
follicular lymphoma and T-follicular helper cell subsets of peripheral T-cell lymphoma. The overall response rate is 84% and the CR rate
is 32%, as measured by the Lugano criteria. In 2027, we plan to announce interim data and provide long-term development guidance about
what we believe could be a practice changing medicine in lymphoma.

 I’ll turn now to TLN-254, an oral EZH2 inhibitor, which is also
in development for lymphoma. EZH2 is a master regulator of cell proliferation, apoptosis and senescence. We licensed ex-China rights to
 ‘254 from Jiangsu Hengrui Pharmaceuticals, which markets the agent in China in relapsed/refractory peripheral T-cell lymphoma. We
licensed ‘254 because we were intrigued by its combination potential with TLN-121, especially in DLBCL.

 We have been evaluating the pharmacokinetics of ‘254 in a western
population by studying it as a monotherapy in a dose randomized Phase 1 trial in peripheral and cutaneous T-cell lymphoma. Across both
doses, in 21 efficacy evaluable peripheral T-cell lymphoma patients, we observed an overall response rate of 62%, with a CR rate of 33%,
as measured by the Lugano criteria. These data are substantially similar to those reported by Hengrui.

 On June 2 nd , the FDA placed a partial clinical hold
on the TLN-254 monotherapy Phase 1 study and the TLN-254 combination cohorts within the TLN-121 Phase 1 study due to concerns regarding
the potential for secondary malignancies. This FDA action follows Ipsen’s voluntary withdrawal of its EZH2 inhibitor Tazverik®,
in response to an imbalance of secondary malignancies observed in its confirmatory Phase 3 trial in follicular lymphoma. Enrollment
in the TLN-254 monotherapy study and the combination cohorts of the TLN-121 study have been paused. Patients currently deriving clinical
benefit from '254 may continue treatment, and investigators are in the process of reconsenting them and explaining the reason for the
partial clinical hold. We are deeply committed to patient safety and are working with the Agency to address the partial hold. We continue
to believe, as do many of our investigators, that ‘254 may warrant further evaluation in combination with TLN-121 in aggressive
lymphomas, where unmet medical need remains high.

 Our third clinical program is TLN-372, an oral KRAS inhibitor. I trust
most people listening to this are familiar with the KRAS landscape and some of the recent news out of ASCO. You may be asking yourself
how Treeline fits into a world of pan-RAS inhibitors, mutant selective inhibitors and even other pan-KRAS inhibitors. We ultimately expect
to answer such questions with interim clinical response and safety data in 2027. But for now, we will outline some of the concepts that
motivated us to design ‘372 from scratch, and how its results may not correlate with those of other pan-KRAS inhibitors.

 We expect ‘372 to differentiate in the clinic based on its ability
to achieve therapeutic free-drug exposures throughout the dosing period and to avoid HRAS and NRAS mediated toxicities. This profile should
allow for the deep target inhibition required for single-agent responses, as well as for dose intense combinability with cytotoxics, immunotherapies,
anti-EGFR antibodies and other drug classes. We believe strongly—because of the biology of RAS mutated cancers—that dose intense
combination regimens are the future of the field, especially in earlier lines of therapy.

 Page 4 of 8

 We are enrolling a Phase 1 dose escalation trial for TLN-372 in patients
with KRAS mutant or KRAS wild-type amplified solid tumors. Currently in our fourth dose level, we are solidly on thesis, with PK observed
to date in patients consistent with preclinical modeling. We believe ‘372 has the potential to avoid the drug exposure limitations
that have been common in the KRAS inhibitor field. We are optimistic that we will be able to reach our pharmacokinetic objectives and
that selectivity against HRAS and NRAS will avoid some of the toxicities that have limited dose intensity for other programs.

 I’ll turn now to a fourth program, TLN-499, which is expected
to enter the clinic this year. ‘499 is an oral protein degrader that selectively targets BCL-XL. Certain cancer cells rely on BCL-XL
alongside other pro-survival proteins to prevent apoptosis. Extensive literature suggests that antagonizing BCL-XL could meaningfully
potentiate other drug classes such as chemotherapeutics and targeted therapies including EGFR, KRAS, BRAF, MEK and BCL-2 inhibitors. To
figure out which, if any, of these combination pairs had the potential for the best clinical results, we relied on data from over 200
patient-derived xenograft models to prioritize our development plans. Another thing we had to figure out for this program was how to manage
platelet toxicity, since BCL-XL is an essential mediator of platelet survival. ‘499 was designed to potently degrade BCL-XL, which
may mitigate, but not eliminate, the platelet toxicity observed with previous generations of inhibitors. Despite the development complexities,
internal data for ‘499 are compelling and we believe support a clear clinical path. We are eager to get started in the clinic soon.

 To review, our first three home grown clinical programs—'121,
 ‘372 and ‘499—are a degrader, an inhibitor and a degrader, respectively. All three targets, BCL6, KRAS and BCL-XL, are
oncology targets. The next three expected clinical entries involve some Treeline themes that I haven’t mentioned yet. One is our
interest in therapeutic areas outside of oncology. Another is the platform build we undertook to be able to address previously unliganded
pockets and proteins. And a third is our excitement around targeted therapy ADCs.

 The next three expected clinical entries include programs that address
diseases outside of oncology. More specifically, neurology and immunology. As noted at the beginning of my remarks, we see ourselves as
target pickers who make good drug design and development choices. Many of our team members have worked in other therapeutic areas and
we often consider new program concepts that we think can work, make a difference for patients and play to the strengths of our team.

 A previously unliganded target refers to a protein domain for which
there is nothing in the public sphere—be it the peer reviewed literature or the patent literature—showing that a small molecule
can bind to it. Put another way, it is a target that has no known starting points for a medicinal chemist. Addressing previously unliganded
pockets and proteins requires team and technology capabilities that include real and virtual compound libraries, protein science, novel
biochemistry and biophysical assay development, structural biology, in vivo model development and extensive computational enablement.
The last part, computation, includes physics-based modeling, AI, and workflow solutions that connect different data sources. We have learned
that the true power of computation comes only through tight integration with traditional wet-lab teams. After a lot of work and fine tuning, I’m
pleased that we have teams, technologies, and processes that are putting up results against previously unliganded pockets and proteins.
We expect at least one near-term clinical entry from this category.

 Page 5 of 8

 Last, a word on targeted therapy ADCs. These are ADCs that use a precision
medicine payload instead of a cytotoxic. The antibody’s job is to direct the payload away from a susceptible healthy tissue that
would otherwise be responsible for a dose-limiting toxicity. Building a targeted therapy ADC requires antibody and linker expertise, as
well as the ability to pursue difficult small molecule chemistry on the payload side. We expect at least one targeted therapy ADC to be
among our next three clinical entries.

 Let me conclude with a brief comment on our
data disclosure philosophy. As we move our clinical programs forward and as new programs enter the clinic, we want to ensure that we avoid
incremental and confusing updates. Right now, we are guiding to clinical entry of ‘499 in 2026, interim data read outs for ’121
and ‘372 in 2027, and three additional clinical entries in 2027 and 2028. In the first quarter of 2027, we will provide additional
program level guidance.

 I want to close with a message of gratitude.
Thank you to my fellow Treeline employees for taking a chance on each other and working so hard. Thank you to the Treeline investors who
have shared the vision and wanted to think big. And thank you to the team and investors at Standard BioTools for joining us on the journey—we
promise to work hard for you.

 This concludes my remarks and I will now hand the call back to the
operator.

 Closing Remarks – Operator

 · This concludes our call, thank you.

 Forward-Looking Statements

 This communication contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding expectations with respect to the
acquisition of Treeline Biosciences, Inc. (“Treeline”) by Standard BioTools Inc. (“Standard BioTools”) (the
 "Transaction"), the ability of the parties to complete the Transaction; the expected post-closing ownership of the combined
company; the expected management team and Board of Directors of the combined company; the combined company's expected cash balance and
cash runway; Treeline’s product candidates and the potential benefits thereof and potential new indications; Treeline's expectations
with regard to the timing and availability of data from Treeline’s current and planned clinical trials and preclinical studies;
the timing of IND filings and planned clinical entries for Treeline's preclinical programs; the potential market size and size of the
potential patient populations for Treeline's product candidates and any future product candidates; Treeline's business strategy; as well
as any assumptions underlying any of the foregoing. The words “may,” “will,” “estimate,” “continue,”
 “anticipate,” “intend,” expect,” and similar expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to risks, uncertainties, and assumptions.

 Page 6 of 8

 Forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties
related to: (i) the ability to obtain the requisite approval from stockholders of Standard BioTools; (ii) the risk that the
Transaction may not be completed in a timely manner or at all; (iii) the possibility that competing offers or acquisition proposals
will be made; (iv) the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied
or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities; (v) the
occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances
that would require either party to pay a termination fee or other expenses; (vi) the effect of the pendency of the Transaction on
the parties’ ability to retain and hire key personnel, their ability to maintain relationships with customers, suppliers and others
with whom they do business, their business generally or their stock price; (vii) risks related to diverting management’s attention
from ongoing business operations or the loss of one or more members of the management team; (viii) the risk that stockholder litigation
in connection with the Transaction may result in significant costs of defense, indemnification and liability; (ix) the parties’
ability to realize the anticipated benefits of the Transaction; (x) the risk that the parties may assume unexpected liabilities and
expenses as a result of the Transaction; (xi) the risk that the potential dispositions of Standard BioTools’ Mass Cytometry
and Microfluidics businesses may not be completed on favorable terms or at all; (xii) the risk that Standard BioTools could fail
to maintain the listing of its common stock on Nasdaq; (xiii) uncertainties as to the potential for development, commercialization
and other benefits of any of Treeline’s product candidates; and (xiv) uncertainties as to Treeline’s anticipated preclinical
and clinical drug development activities and related timelines, including the expected timing for commencing clinical trials and announcing
data and other clinical results. For information regarding other related risks, see the “Risk Factors” section of Standard
BioTools’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 16, 2026,
Standard BioTools’ most recent Quarterly Report on Form 10-Q and in Standard BioTools’ other filings with the SEC. Should
any of these risks or uncertainties materialize, actual results could differ materially from expectations. These forward-looking statements
speak only as of the date hereof. Neither Standard BioTools nor Treeline assumes any obligation to, and does not currently intend to,
update any such forward-looking statements except as may be required by law.

 Additional Information and Where to Find It

 This communication may be deemed to be solicitation material in respect
of the proposed transaction involving Standard BioTools and Treeline. In connection with the proposed transaction and required stockholder
approval, Standard BioTools intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement
on Form S-4 that will include a proxy statement and a prospectus of Standard BioTools. This communication is not a substitute for
the proxy statement/prospectus or any other document that Standard BioTools may file with the SEC or send to its stockholders in connection
with the proposed transaction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10
of the U.S. Securities Act of 1933, as amended. Any definitive proxy statement/prospectus (if and when available) will be mailed to stockholders
of Standard BioTools.

 INVESTORS AND STOCKHOLDERS OF STANDARD BIOTOOLS ARE URGED TO READ THE
PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS, SUPPLEMENTS AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT
MATERIALS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED
TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT STANDARD BIOTOOLS, TREELINE AND THE PROPOSED TRANSACTION. Copies of
the materials filed or to be filed by Standard BioTools with the SEC may be obtained free of charge on Standard BioTools’ Investor
Relations website at https://investors.standardbio.com or by contacting Standard BioTools’ Investor Relations department at ir@standardbio.com.
In addition, all of those materials will be available at no charge on the SEC’s website at www.sec.gov.

 Page 7 of 8

 Participants in the Solicitation

 Standard BioTools, Treeline and certain of their respective directors,
executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies of Standard
BioTools stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed
information regarding the names, affiliations and interests of Standard BioTools’ executive officers and directors in the solicitation
by reading Standard BioTools’ proxy statement for its 2026 annual meeting of stockholders (including under the headings “Management
and Corporate Governance,” “Executive Officer and Director Compensation,” “Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and
Related Transactions, and Director Independence”), its Annual Report on Form 10-K for the fiscal year ended December 31,
2025, subsequent Quarterly Reports on Form 10-Q and Standard BioTools’ other filings with the SEC. Information regarding the
persons who may, under SEC rules, be deemed participants in the solicitation of Standard BioTools stockholders in connection with the
proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth
in the registration statement on Form S-4 and other relevant materials when filed with the SEC in connection with the proposed transaction.
Information regarding Treeline’s directors and executive officers who may be deemed participants in the solicitation will be contained
in the registration statement on Form S-4 when it becomes available. These documents are or will be available free of charge at the
SEC’s website at www.sec.gov or by going to Standard BioTools’ Investor Relations website at http://investors.standardbio.com
or contacting Standard BioTools’ Investor Relations department at ir@standardbio.com.

 Page 8 of 8

EX-99.3 · tm2617100d1_ex99-3.htm

EX-99.3
 8
 tm2617100d1_ex99-3.htm
 EXHIBIT 99.3

 Exhibit 99.3

 Transaction and Company Overview June 2026

 Disclaimer 2 This presentation, which has been prepared by Treeline Biosciences, Inc. (“ Treeline ”), is for informational purposes only, and shall not form the basis for or be relied on in connection with any investment decision with respect to Treeline , Standard BioTools Inc. (“Standard BioTools ”), or the combined company. This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , including, among others, statements regarding expectations with respect to the acquisition of Treeline by Standard BioTools (the "Transaction"), the ability of the parties to complete the Transaction; the expected post - closing ownership of the combined company; the expected management team and Board of Directors of the combined company; the c omb ined company's expected cash balance and cash runway; Treeline’s product candidates and the potential benefits thereof and potential new indications; Treeline's expectations with regard to the timing and availability of data from Treeline’s current and planned clinical trials and preclinical studies; the timing of IND filings and planned clinical entries for Treeline's preclinical programs; the potential market size and size of the potential patient populations for Treeline's product candidates and any future product candidates; Treeline's business strategy; as well as any assumptions underlying any of the foregoing. The words “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” exp ect,” and similar expressions are intended to identify forward - looking statements. These forward - looking statements are subject to risks, uncertainties, and assumptions. Forward - looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, perfo rmance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward - looking statements. These ris ks include, but are not limited to, risks and uncertainties related to: (i) the ability to obtain the requisite approval from stockholders of Standard BioTools ; (ii) the risk that the Transaction may not be completed in a timely manner or at all; (iii) the possibility that competing offers or acquisition proposals will be made; (iv) the possibility tha t a ny or all of the various conditions to the consummation of the Transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any a ppl icable governmental entities; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circums tan ces that would require either party to pay a termination fee or other expenses; (vi) the effect of the pendency of the Transaction on the parties’ ability to retain and h ire key personnel, their ability to maintain relationships with customers, suppliers and others with whom they do business, their business generally or their stock price; (vii) risks r ela ted to diverting management’s attention from ongoing business operations or the loss of one or more members of the management team; (viii) the risk that stockholder litig ati on in connection with the Transaction may result in significant costs of defense, indemnification and liability; (ix) the parties’ ability to realize the anticipated benefits of the Transaction; (x) the risk that the parties may assume unexpected liabilities and expenses as a result of the Transaction; (xi) the risk that the potential dispositions of Standard BioTools ’ Mass Cytometry and Microfluidics businesses may not be completed on favorable terms or at all; (xii) the risk that Standard BioTools could fail to maintain the listing of its common stock on Nasdaq; (xiii) uncertainties as to the potential for development, commercialization and other benefits of any of Treeline’s product candidates; and (xiv) uncertainties as to Treeline’s anticipated preclinical and clinical drug development activities and related timelines, including the expected timing for commencing clinical trials and ann ouncing data and other clinical results. For information regarding other related risks, see the “Risk Factors” section of Standard BioTools ’ Annual Report on Form 10 - K for the year ended December 31, 2025, filed with the SEC on March 16, 2026, Standard BioTools ’ most recent Quarterly Report on Form 10 - Q and in Standard BioTools ’ other filings with the SEC. Should any of these risks or uncertainties materialize, actual results could differ materially from expectations. These forward - looking statements speak only as of the date hereof. Neither Standard BioTools nor Treeline assumes any obligation to, and does not currently intend to, update any such forward - looking statements except as may be requir ed by law.

 Additional Information and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed transaction involving Standard BioTools and Treeline . In connection with the proposed transaction and required stockholder approval, Standard BioTools intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S - 4 that will include a proxy statement and a prospectus of Standard BioTools . This communication is not a substitute for the proxy statement/prospectus or any other document that Standard BioTools may file with the SEC or send to its stockholders in connection with the proposed transaction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. Any definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Standard BioTools . INVESTORS AND STOCKHOLDERS OF STANDARD BIOTOOLS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS, S UPP LEMENTS AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT MATERIALS FILED OR TO BE FILED WITH THE SEC WHEN THEY BEC OME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT STA NDA RD BIOTOOLS, TREELINE AND THE PROPOSED TRANSACTION. Copies of the materials filed or to be filed by Standard BioTools with the SEC may be obtained free of charge on Standard BioTools ’ Investor Relations website at https://investors.standardbio.com or by contacting Standard BioTools ’ Investor Relations department at ir@standardbio.com. In addition, all of those materials will be available at no charge on the SEC’s website at www.sec.gov. Participants in the Solicitation Standard BioTools , Treeline and certain of their respective directors, executive officers, other members of management and employees may be deemed to be pa rticipants in the solicitation of proxies of Standard BioTools stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed i nformation regarding the names, affiliations and interests of Standard BioTools ’ executive officers and directors in the solicitation by reading Standard BioTools ’ proxy statement for its 2026 annual meeting of stockholders (including under the headings “Management and Corporate Governance,” “Executive Officer and Director Compensation,” “Security Ow nership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive Compensation” and “Certain Relationships and Related Transactions, and Director Ind ependence”), its Annual Report on Form 10 - K for the fiscal year ended December 31, 2025, subsequent Quarterly Reports on Form 10 - Q and Standard BioTools ’ other filings with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Standard BioTools stockholders in connection with the proposed transaction, including a description of their direct or indirect interests, by s ec urity holdings or otherwise, will be set forth in the registration statement on Form S - 4 and other relevant materials when filed with the SEC in connection with the proposed transaction. Information regarding Treeline’s directors and executive officers who may be deemed participants in the solicitation will be contained in the registration sta te ment on Form S - 4 when it becomes available. These documents are or will be available free of charge at the SEC’s website at www.sec.gov or by going to Standard BioTools ’ Investor Relations website at http://investors.standardbio.com or contacting Standard BioTools ’ Investor Relations department at ir@standardbio.com. 3 Disclaimer (cont.)

 Transaction Summary/Highlights 4 Structure The acquisition of Treeline was structured as a stock - for - stock reverse merger transaction whereby all of Treeline’s outstanding equity interests will be exchanged for shares of Standard BioTools common stock. Management and BOD Use of Proceeds Josh Bilenker , Jeff Engelman, and Spencer Smith – Treeline’s CEO, CSO and CFO, respectively – will lead the combined company after closing. Two current Standard directors will continue to serve on the Board of Directors following the close of the transaction. The combined company’s cash balance is expected to be used primarily to advance: 1) clinical programs (TLN - 121, TLN - 254, and TLN - 372) from Phase 1 into potential registrational studies, 2) preclinical programs into early clinical development, and 3) early research and G&A. Finances Following the consummation of the transaction, t he combined company’s cash balance is estimated to exceed $900M and expected to provide runway into 2029.

 Estimated Capitalization Following Close of Transaction 5 Standard BioTools Treeline Biosciences Shares on an as - converted / as - exercised basis (in millions) Expected ownership of the combined company Fully diluted shares outstanding Estimated fully diluted shares of the combined company post - closing Shares of common stock (including shares underlying equity grants) 415.9 513.2 1,694.5 62.9 Series A shares Warrants 2,686.6 15.5% 84.5% Figures may not total due to rounding.

 6 Treeline Biosciences Josh Bilenker , MD CEO and Co - Founder Loxo Oncology @ Lilly Loxo CEO and Founder VC, FDA, medical oncologist Jeff Engelman, MD, PhD CSO and Co - Founder Novartis Institutes for BioMedical Research MGH SABs of Loxo and Agios • Labs in Watertown, MA, San Diego, CA, and Basel, Switzerland • $1.2B raised from syndicate of leading life science investors • Target - centric pipeline – working in oncology, neurology, and immunology • Proven modalities – small molecule inhibitors, protein degraders, and targeted therapy ADCs (TT - ADC) • Productivity and innovation through in - house, integrated teams • Interim data from TLN - 121 (BCL6) and TLN - 372 (pan - KRAS) expected in 2027; additional clinical start planned in 2026 • Three additional programs, including previously unliganded targets, expected to enter the clinic in 2027 - 28 Founders Overview

 7 Target Selection: Our Four Criteria Disease dependency Are we sure the target drives the disease? Therapeutic index Can we expect a wide gap between the beneficial dose and the poorly tolerated dose? Path to druggability Can we make a medicine that profoundly alters target function? Patient need & commercial potential If successful, will the medicine change the standard of care?

 8 Diverse Modalities Expand Addressable Target Universe Small Molecule Inhibitors Watertown San Diego Protein Degraders San Diego Targeted Therapy ADCs Watertown Basel

 9 Treeline’s Programs Upcoming Anticipated Milestones Program Stage Associated Diseases Modality Program (target) Initiate combination expansions in 2026 Interim data in 2027 Phase 1 B - cell lymphomas, T - cell lymphomas Oral degrader TLN - 121 (BCL6) Interim data in 2027 Phase 1 Lung, pancreas, colon, other solid tumors Inhibitor TLN - 372 (Pan - KRAS) Initiate combination expansion with TLN - 121 Phase 1 B - cell lymphomas, T - cell lymphomas Inhibitor TLN - 254 (EZH2) Trial initiation in 2026 IND - enabling Solid tumors Oral degrader TLN - 499 (BCL - XL) Clinical entry in 2027 - 2028 Lead optimization Oncology, neurology, immunology Inhibitor, TT - ADC, degrader Three late - stage preclinical programs

 TLN - 121 BCL6 Degrader

 Lymphoma Landscape and Unmet Need 11 • Most common aggressive lymphoma; >25,000 annual US diagnoses • While frontline therapy successfully treats >60% of cases, ~10 – 15% are refractory and ~20 – 25% relapse with poor prognosis • Standard - of - care includes chemo - immunotherapy regimens, CAR - T, and CD20xCD3 bispecific antibodies • Most common Indolent lymphoma; ~15,000 annual US diagnoses • Incurable and treated over decades; goal of therapy is durable disease control and treatment - free remissions across multiple well - tolerated regimens • Standard - of - care includes CD20 therapy +/ - chemotherapy, IMiD therapy, CAR - T, and CD20xCD3 bispecific antibodies • Rare, aggressive non - Hodgkin lymphoma (NHL) subtype with poor outcomes; ~6,000 annual US diagnoses • Only ~30 – 40% of patients achieve durable benefit from frontline therapy • Standard - of - care includes CHOP/CHOEP - based chemotherapy; no standard in relapsed/refractory disease Diffuse large B - cell lymphoma (DLBCL) Follicular lymphoma (FL) Peripheral T - cell lymphoma (PTCL) Sources: Blood Cancer United, bloodcancerunited.org , accessed May 2026. N Engl J Med 2021;384(9):842 – 858. NCCN B - Cell Lymphomas, v4.2026. Blood (Hematology Am Soc Hematol Educ Program) 2020;2020(1):287 – 294. J Clin Oncol 2008;26(25):4124 – 4130. Blood 2014;123(17):2636 – 2644. NCCN T - Cell Lymphomas, v2 .2026

 BCL6 is a Critical Driver of Lymphoma Biology • BCL6 enables B - cells to: • Rapidly proliferate, • Hypermutate, and • Avoid T - cell interactions • Many lymphomas, particularly DLBCL, FL and PTCL, maintain high BCL6 expression • Loss of BCL6 drives B - cell differentiation or apoptosis • First lineage transcription factor targeted in lymphoma 12

 TLN - 121 Program Overview TLN - 121 is an oral, selective and potent BCL6 degrader >20x therapeutic margins observed in GLP toxicology First patients dosed in Q3’25 Extensive Treeline translational data suggest BCL6 degrader is synergistic in combination with lymphoma SoC therapies 13

 TLN - 121 Was Designed for Selectivity • Treeline pursued a selective BCL6 degradation profile for TLN - 121 • Unbiased proteomics analysis of ~7,000 proteins indicates selective degradation of BCL6 • Selectivity should enhance combinability, important for potentiating available therapies 14 Dashed lines indicate significance thresholds (log 2 fold - change < - 1, P - value < 0.001) -5 0 5 0 5 10 OCI-LY1 6h 99643 Abundance Ratio (Comp/DMSO), log 2 - l o g ( P - v a l u e ) BCL6 OCI - Ly1 + 100 nM TLN - 121 (6h)

 TLN - 121 Demonstrated Single Agent Activity in Preclinical DLBCL Models • Extensive preclinical evaluation in 50+ CDX/PDX models of lymphoma, including single - agent and 10+ combination regimens • Single agent TLN - 121 regressed many preclinical DLBCL models • Some models required TLN - 121 in combination with other anti - lymphoma agents to regress 15 Observation 0 7 14 21 28 35 42 0 500 1000 1500 2000 2500 3000 WSU-DLCL2 (DLBCL CDX) Study Days T u m o r V o l u m e ( m m 3 ) TLN-121 (8 mg/kg, BIDx28, PO) Vehicle (BIDx28, PO)

 TLN - 121 Phase 1 Study in R/R Lymphomas 16 Dose Expansion: Monotherapy and Combinations in R/R Lymphomas Subject to change based on emerging data Dose Escalation: Monotherapy and Combination with TLN - 254 in Relapsed or Refractory (R/R) DLBCL, FL and PTCL DL2 DL1 DL3+ Combination : TLN - 121 + TLN - 254* Monotherapy: TLN - 121 DL2 DL1 DL3+ TLN - 121 + TLN - 254* disease - specific cohorts TLN - 121 disease - specific cohorts TLN - 121 + bispecific T - cell engagers disease - specific cohorts TLN - 121 + other combinations disease - specific cohorts *TLN - 254 combination cohorts are on partial clinical hold (as of June 2, 2026).

 Single - Agent Responses Observed Across DLBCL, FL and PTCL By Lugano criteria • Patients were heavily pre - treated, with prior lines of therapy ranging from 2 to 8 • Of the patients with DLBCL and FL, 50% of patients had received a prior T - cell/immune - cell engager and 33% of patients had received prior CAR - T therapy • N=19 response - evaluable patients received TLN - 121 monotherapy across dose levels tested to date • Complete metabolic responses observed in each histology (DLBCL, FL, and PTCL) Data - cut date: 6Mar26. 17 TLN - 121 Monotherapy in DLBCL, FL, and PTCL N=19 16 (84%) ORR 6 (32%) CMR 10 (53%) PMR

 Preliminary Safety Profile 18 • N=34 patients in safety data set • No DLTs • Majority of TEAEs and TRAEs were Grade 1 • TRAEs occurring in ≥20% or greater of participants were arthralgia and nausea • Asymptomatic Grade 3 QTc prolongation (heart rhythm abnormality) reported in three patients with impaired clearance and outlier exposures, or concomitant medications D ata - cut date: 3Mar2026. DLT = dose limiting toxicities, TEAE = treatment - emergent adverse events, TRAE = treatment - related adverse events

 TLN - 372 Pan - KRAS Inhibitor

 KRAS is One of the Most Commonly Mutated Oncogenes Total Other Solid Tumors* Endometrial Lung Pancreatic Colorectal 51,300 1,700 5,300 4,500 21,300 18,500 G12D 39,300 1,000 4,100 5,400 16,300 12,500 G12V 18,700 300 1,100 12,500 700 4,100 G12C 7,100 300 1,600 2,300 200 2,800 G12A 4,000 100 300 500 <50 3,000 G12S 14,900 900 2,000 800 300 10,900 G13D 2,000 0 400 1,100 0 500 G13C 9,200 7,400 0 700 100 1,000 WT amp 146,500 11,700 14,800 27,800 38,900 53,300 Total 20 *Other solid tumors includes invasive ductal carcinoma, stomach adenocarcinoma, esophageal adenocarcinoma and gastroesophagea l j unction cancer. Patient numbers approximated to nearest hundred. Estimated newly diagnosed patients per year in the US Cancer Discov 2022;12(4):924 – 937

 21 TLN - 372 Program Overview TLN - 372 is a potent and orally bioavailable pan - KRAS inhibitor KRAS is an unforgiving target that requires deep inhibition Novel scaffold was required for improved ADME/PK and target coverage Pan - RAS inhibitors, while active, have dose - limiting skin and other toxicities, due to inhibition of all RAS isoforms (K/H/N) Improved tolerability could enable combinations in earlier lines of therapy First patient dosed at the end of Q3’25

 Treeline In - House Chemistry & Computational Team Discovered Novel Chemical Scaffold 22 Extensive parallel medicinal chemistry effort ~1,500 compounds synthesized ~30 new chemical cores Solving for potency, solubility, permeability, clearance Enabled by substantial expertise in computer modelling Lead series in 6 months Optimized lead over 15 months

 TLN - 372 Demonstrates Single Agent Activity in Preclinical Models • Extensive preclinical evaluation in 40+ CDX/PDX models across PDAC, NSCLC, CRC and other solid tumors • Single agent TLN - 372 regressed many preclinical solid tumor models • Toxicity profile across 600 cancer cell lines supports selectivity 23 0 7 14 21 0 500 1000 1500 2000 Days post Grouping T u m o r V o l u m e ( m m 3 ) M e a n ± S E M Anti - Tumor Activity in NCI - H727 CDX Vehicle (BIDx21 PO) TLN - 372 (10mg/kg, BIDx21, PO) TLN - 372 (30 mg/kg, BIDx21, PO) TLN - 372 (100 mg/kg, BIDx21, PO) TLN - 372 (200 mg/kg, BIDx21, PO)

 TLN - 372 Phase 1 Study 24 Dose Expansion: Monotherapy and Combination s Subject to prioritization based on emerging data from escalation Dose Escalation: Monotherapy in KRAS G12X (excluding G12R), G13X, and WT - amp Solid Tumors TLN - 372 monotherapy NSCLC, pancreatic, and other solid tumors TLN - 372 + EGFR - targeted agents Pancreatic, colorectal TLN - 372 + PD - (L) 1 or PD - (L)1/VEGF ± chemotherapy NSCLC TLN - 372 + chemotherapy Pancreatic DL1 DL2 DL3 DL4 DL5+

 Preliminary PK and Safety Summary 25 • As of May 2026, TLN - 372 has been dosed at four dose levels • No DLTs observed • Free - drug exposures are consistent with exposures predicted by preclinical modeling DLT = dose limiting toxicities

 TLN - 254 EZH2 Inhibitor

 TLN - 254 Program Overview TLN - 254 is a selective and orally bioavailable EZH2 inhibitor Treeline acquired ex - China rights from Jiangsu Hengrui Pharmaceuticals in 2023 Studied in over 400 clinical trial patients and conditionally approved in R/R PTCL in China Preliminary safety and efficacy from Treeline Phase 1 comparable to EZH1/2 inhibitor class Phase 1 monotherapy and combination arms with TLN - 121 currently on partial clinical hold Future development ambitions for TLN - 254 would prioritize combinations with TLN - 121 in relapsed or refractory aggressive lymphoma 27

 TLN - 254 Monotherapy Phase 1 Sites in US and Canada Primary endpoint : Investigator ORR (Lugano Criteria for PTCL; Global Assessment for CTCL) Secondary endpoints : PK, safety TLN - 254 Dose level 1 Cohort 1 (N=40) PTCL (after ≥1 systemic treatment) TLN - 254 Dose level 2 Randomization 1:1 Cohort 2 (N=10) CTCL (after ≥2 prior systemic treatments) TLN - 254 Dose level 2 28 CTCL: cutaneous T - cell lymphoma .

 Interim Efficacy From Treeline Phase 1 in R/R PTCL Patients By Lugano criteria 29 TLN - 254 Monotherapy in PTCL N=21 13 (62%) ORR 7 (33%) CMR 6 (29%) PMR Data - cut date: 06Mar26. • Patients were heavily pre - treated, with prior lines of therapy ranging from 1 to 6 • N=21 response - evaluable PTCL patients received TLN - 254 monotherapy

 Preliminary Safety From Treeline Phase 1 Trial of TLN - 254 • N=37 patients in safety data set • Majority of TEAEs and TRAEs were Grade 1 or 2 • TRAEs occurring in ≥20% or greater of participants were hematologic toxicity and dysgeusia • Grade ≥3 TRAEs were reported in 16% of patients • One secondary malignancy in a PTCL patient Data - cut date: 06Mar26. DLT = dose limiting toxicities, TEAE = treatment - emergent adverse events, TRAE = treatment - related adverse events 30

 Looking Forward 31 Clinical Programs TLN - 121 (BCL6 degrader) Initiate combination expansion cohorts in 2026 Interim data expected in 2027 TLN - 254 (EZH2 inhibitor) Initiate combination expansion with TLN - 121 TLN - 372 (Pan - KRAS inhibitor) Interim data expected in 2027 Additional Preclinical Programs TLN - 499 (BCL - XL degrader) Trial initiation expected in 2026 Lead optimization Inhibitors, degraders, TT - ADCs Neurology, immunology, oncology 3 clinical entries expected in 2027 - 2028 Additional discovery programs

EX-99.4 · tm2617100d1_ex99-4.htm

EX-99.4
 9
 tm2617100d1_ex99-4.htm
 EXHIBIT 99.4

 Exhibit 99.4

 June 2026 Standard BioTools Announcement

 Today’s Announcement Merger with Treeline Biosciences Strategic Options for Our Businesses • Decision follows broad review of strategic and financial growth options after the Illumina transaction. • While the company has made strong progress since 2022, the current capital environment for small - cap life science tools companies has made it difficult to achieve the scale and value we want through M&A. • All - stock merger; combined company will operate as Treeline focused on advancing Treeline’s biopharma portfolio. • Treeline does not intend to operate Mass Cytometry and Microfluidics businesses. • Actively exploring strategic options , with the goal of finding the right long - term home for the products, teams and customers. • We do not have an answer today on the future state of Mass Cytometry and Microfluidics; more information is expected in the coming weeks. • Most important priority: stay focused on execution, customers and delivering on commitments. 2

 Josh Bilenker , MD CEO and Co - Founder Loxo Oncology @ Lilly Loxo CEO and Founder VC, FDA, medical oncologist Jeff Engelman, MD, PhD CSO and Co - Founder Novartis Institutes for BioMedical Research MGH SABs of Loxo and Agios Founders Overview Treeline BioSciences 3 • Labs in Watertown, MA, San Diego, CA, and Basel, Switzerland • $1.2B raised from syndicate of leading life science investors • Target - centric pipeline – working in oncology, neurology, and immunology • Proven modalities – small molecule inhibitors, protein degraders, and targeted therapy ADCs (TT - ADC) • Productivity and innovation through in - house, integrated teams • Multiple planned read - outs beginning in 2027 ; additional clinical start planned in 2026 • Three additional programs, including previously unliganded targets, expected to enter the clinic in 2027 - 28

 Disease dependency Are we sure the target drives the disease? Therapeutic index Can we expect a wide gap between the beneficial dose and the poorly tolerated dose? Path to druggability Can we make a medicine that profoundly alters target function? Patient need & commercial potential If successful, will the medicine change the standard of care? Target Selection: Treeline’s Four Criteria 4

 Continue to operate as usual; no changes. Reiterate status quo and focus on continuity until closing. Send all external inquiries to Alex Kim, CFO Business As Usual Timing & Approvals Committed to Transparency Employee transition plans are top of mind as we work through Mass Cytometry and Microfluidics process and for corporate teams. No changes will take effect at this time; HR will notify team members individually about plans. Committed to updates as decisions are made. Nothing is changing today or in the near - term. Expected closing in second half of 2026, once all approvals and conditions are met. Your leadership has been provided with a FAQ to address your concerns. We do not have all the answers at this stage. Please be patient as we work through the next several months. What’s Next? 5

 Questions? 6

 7 Forward - Looking Statements This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , including, among others, statements regarding the expected timing of the closing of the transaction; the potential benefits of the proposed transaction; the pros pec tive performance and outlook of the combined company’s business, performance and opportunities; the ability of the parties to complete the proposed transaction ; Treeline’s expectations with regard to the timing and availability of data from its current and planned clinical trials and preclinical studies; as well as any assumptions underlying any of the foregoing. The words “may,” “will,” “continue,” “intend,” “expect,” and similar expressions are intended to identify forward - looking statements. Thes e forward - looking statements are subject to risks, uncertainties, and assumptions. Forward - looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, perfo rmance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward - looking statements . These risks include, but are not limited to, risks and uncertainties related to: (i) the ability to obtain the requisite approval from stockholders of Standard BioTools ; (ii) the risk that the proposed transaction may not be completed in a timely manner or at all; (iii) the possibility that competing offers or acquisition proposals will be m ade ; (iv) the possibility that any or all of the various conditions to the consummation of the proposed transaction may not be satisfied or waived, including the failure to receive a ny required regulatory approvals from any applicable governmental entities; (v) the occurrence of any event, change or other circumstance that could give rise to the t erm ination of the merger agreement, including in circumstances that would require either party to pay a termination fee or other expenses; (vi) the effect of the pendency of the proposed transaction on the parties’ ability to retain and hire key personnel, their ability to maintain relationships with customers, suppliers and others with whom they do business, their business generally or their stock price; (vii) risks related to diverting management’s attention from ongoing business operations or the loss of one or m ore members of the management team; (viii) the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, ind emnification and liability; (ix) the parties’ ability to realize the anticipated benefits of the proposed transaction; (x) the risk that the parties may assume unexpected liabilit ies and expenses as a result of the transaction; (xi) the risk that the potential dispositions of Standard BioTools ’ Mass Cytometry and Microfluidics businesses may not be completed on favorable terms or at all; (xii) the risk that Standard BioTools could fail to maintain the listing of its common stock on Nasdaq; (xiii) uncertainties as to the potential for development, c om mercialization and other benefits of any of Treeline’s product candidates; and (xiv) uncertainties as to Treeline’s anticipated preclinical and clinical drug development activities and related timelines, including the expected timing for commencing clinical trials and announcing data and other clinical results. For i nfo rmation regarding other related risks, see the “Risk Factors” section of Standard BioTools ’ Annual Report on Form 10 - K for the year ended December 31, 2025, filed with the SEC on March 16, 2026, Standard BioTools ’ most recent Quarterly Report on Form 10 - Q and in Standard BioTools ’ other filings with the SEC. Should any of these risks or uncertainties materialize, actual results could differ materially from expectations. These forward - looking statements speak only as of the date hereof. Neither St andard BioTools nor Treeline assumes any obligation to, and does not currently intend to, update any such forward - looking statements except as may be required by law.

 8 Additional Information and Where to Find It This presentation may be deemed to be solicitation material in respect of the proposed transaction involving Standard BioTools and Treeline . In connection with the proposed transaction and required stockholder approval, Standard BioTools intends to file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S - 4 that will include a proxy statement and a prospectus of Standard BioTools . This communication is not a substitute for the proxy statement/prospectus or any other document that Standard BioTools may file with the SEC or send to its stockholders in connection with the proposed transaction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Secu rit ies Act of 1933, as amended. Any definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Standard BioTools . INVESTORS AND STOCKHOLDERS OF STANDARD BIOTOOLS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS, SUPPLEMENTS AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT MATERIALS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT STANDARD BIOTOOLS, TREELINE AND THE PROPOSED TRANSACTION. Copies of the materials filed o r t o be filed by Standard BioTools with the SEC may be obtained free of charge on Standard BioTools ’ Investor Relations website at https://investors.standardbio.com or by contacting Standard BioTools ’ Investor Relations department at ir@standardbio.com. In addition, all of those materials will be available at no charge on the SEC’s website at www.sec.gov. Participants in the Solicitation Standard BioTools , Treeline and certain of their respective directors, executive officers, other members of management and employees may be deemed to be pa rticipants in the solicitation of proxies of Standard BioTools stockholders in connection with the proposed transaction under SEC rules. Investors and stockholders may obtain more detailed information regarding the names, affiliations and interests of Standard BioTools ’ executive officers and directors in the solicitation by reading Standard BioTools ’ proxy statement for its 2026 annual meeting of stockholders (including under the headings “Management and Corporate Governanc e,” “Executive Officer and Director Compensation,” “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” “Executive C omp ensation” and “Certain Relationships and Related Transactions, and Director Independence”), its Annual Report on Form 10 - K for the fiscal year ended De cember 31, 2025, subsequent Quarterly Reports on Form 10 - Q and Standard BioTools ’ other filings with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Standard BioTools stockholders in connection with the proposed transaction, including a description of their direct or indirect interests, by s ec urity holdings or otherwise, will be set forth in the registration statement on Form S - 4 and other relevant materials when filed with the SEC in connection with the proposed transaction. Information regarding Treeline’s directors and executive officers who may be deemed participants in the solicitation will be contained in the registration statement on Form S - 4 when it becomes available. These documents are or will be available free of charge at the SEC’s website at www.sec.gov or by going to Standard BioTools ’ Investor Relations website at http://investors.standardbio.com or contacting Standard BioTools ’ Investor Relations department at ir@standardbio.com.