Unchained Labs, a Pleasanton, Calif.-based life sciences company that matches biologics researchers and the right tool for the job, closed a $50m debt facility.
Silicon Valley Bank (SVB) provided the financing. The agreement allows the company to retire its existing $18.5m debt facility and complements the $86m raised in equity over the last four years from Novo Ventures, Canaan Partners, TPG Biotech and Tri-Valley Ventures.
Unchained Labs intends to use the funds to further support its working capital growth, along with adding dry powder for future acquisitions.
Led by Tim Harkness, Founder and CEO, the company provides biologics researchers with the tools to conduct their activities including a:
– a silicone thickness and distribution analyzer
– a configurable benchtop workflow solution
– a biologics quantification and quality combo
– a protein and nucleic acid quantification system
– a biologics stability screening platform
– a hi-def stability and aggregation characterization platform
– a protein sizing system
– a chemical and elemental particle identification platform, and
– a customizable automated workflow solution.