US-based biopharmaceutical tool producer Unchained Labs has secured $17m in a series D round backed by Novo Ventures, a strategic investment vehicle for pharmaceutical firm Novo.
Venture capital firm Canaan Partners, VC fund Tri-Valley Ventures and TPG Biotech, a branch of private equity group TPG, also participated in the round, which boosted the company’s overall funding to $86m according to a fact sheet on its website.
Unchained Labs provides equipment for the biological research industry, including a formulation preparation system, a particle identifier, a biologics stability platform and a silicone protector.
The company announced the funding in tandem with its acquisition of particle identification technology producer and contract testing service provider Rap.ID for an undisclosed sum. Germany-based Rap.ID was founded in 2002 but has not publicly disclosed funding.
Unchained Labs raised $25m in a Novo Ventures-led series A round in 2015 that included Canaan and TPG Biotech, and added $25m in series B funding in early 2016. The same three investors returned to supply $13m for the company in a July 2017 series C round.
– Image courtesy of Unchained Labs.