PLEASANTON, Calif., Feb. 18, 2016 /PRNewswire/ -- Unchained Labs cranked its game up today, announcing its acquisition of Freeslate Inc., the leading provider of high-throughput solutions for biologics formulation development and small molecule chemistry. This is Unchained Labs' 4th acquisition in 12 months.
Freeslate's been partnering with Biopharma for over 20 years, developing configurable automation solutions that free scientists from major drug development bottlenecks. Their new FormPrep platform automates biologic formulation preparation and kicks out up to 12 formulations a day with only 20 minutes of prep time. Done manually, this would take 2-4 days plus a ton of hands-on time. Scientists move on to next steps way faster with FormPrep. Unchained Labs' killer detection tools are that next step. Bringing these two biologics-focused portfolios together lets scientists analyze more biologics and formulations than ever.
"This deal is a game-changer. Freeslate's scale combined with Unchained Labs' growth and capital creates a real juggernaut in the biologics formulation process," said Tim Harkness, Founder and CEO of Unchained Labs. "No one is better positioned to build the next generation of biologics tools, and we're just getting started."
"Freeslate has made great progress over the past five years, and this transaction makes great sense for the business, our customers and employees," said John Senaldi, President and CEO of Freeslate. "Unchained Labs shares Freeslate's commitment to customer success and I'm confident the business is in the right hands."
In just over a year, Unchained Labs has grown to 110 employees, $25M+ in annual revenue, has direct distribution around the world and 6 product lines focused on helping researchers build better biologics. In connection with this transaction, the company raised $25 million in a Series B financing. The original syndicate partners, Novo Ventures, Canaan Partners and TPG Biotech all participated in the financing.
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.
VP of Marketing, Unchained Labs
SOURCE Unchained Labs