US-based life sciences tool supplier Unchained Labs has raised $13m in a series C round featuring returning Novo Ventures, the corporate venturing arm of pharmaceutical company Novo.
Venture firm Canaan Partners and TPG Biotech, a specialist branch of private equity group TPG, joined Novo Ventures in the round, which took the company’s overall funding to $63m.
Unchained Labs produces tools for biologics research, including biologics stability systems, a protein sizing product and workflow automation systems.
Novo Ventures led Unchained Labs’ $25m series A round in 2015, investing alongside Canaan and TPG, before the company raised another $25m in March 2016 from undisclosed investors.
Unchained Labs revealed the funding at the same time as its acquisition of Belgium-based protein, DNA and RNA measurement technology developer Trinean.
Trinean had raised €3.5m ($4.7m at contemporary exchange rates) from Capital-E and Baekeland II Fund and Vesalius BioCapital in 2008, and the three were joined by Fidimec, the strategic investment subsidiary of nanoelectronics research institute Imec, for a $3.5m round in 2012.
Tim Harkness, founder and chief executive of Unchained Labs, said: “These products are a perfect strategic fit for Unchained Labs.
“Concentration measurement is central to everything our customers do and DropSense96 is the only product in the world that does it for biologics at high concentration with high-throughput.”
– Image courtesy of Unchained Labs.