Unchained Labs, the life sciences company that’s all about getting biologics researchers the right tool for the job, today announced it has closed a $50 million debt facility from Silicon Valley Bank to further support its working capital growth, along with adding dry powder for future acquisitions.
The agreement allows the company to retire its existing $18.5 million debt facility and complements the $86 million raised in equity over the last four years from Novo Ventures, Canaan Partners, TPG Biotech and Tri-Valley Ventures.
“We are thrilled to partner with Unchained Labs,” said Kristina Peralta, Vice President, Life Sciences at Silicon Valley Bank. “We are proud to support a team that is paving the way for better biologics research and therapeutic options.”
“We are fired up about the opportunity to work with SVB as we continue to scale our business around the globe,” said Jason Novi, Chief Financial Officer of Unchained Labs. “This financing supports our mission to build the largest biologics tools pure-play out there.”
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Date: May 20, 2019
Source: Yahoo Finance
