Unchained Labs gets teed up for the future, snags $50 million debt facility with Silicon Valley Bank
PLEASANTON, California, May 13, 2019 /PRNewswire/ -- 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 (SVB) 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."
About Unchained Labs
Here's the deal. We're all about helping biologics researchers break free from tools that just don't cut it. Unleashing problem-tackling products that make a huge difference in the real science they do every day. That's our mantra, our promise and we own it. We're located in Pleasanton, CA and can be found online at www.unchainedlabs.com.
Contact:
Taegen Clary
VP of Marketing, Unchained Labs
taegen.clary@unchainedlabs.com
925.587.9806
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