Unchained Labs Has a Busy First Day! Raises $25 Million and Closes First Acquisition

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Feb 12, 2015, 08:30 ET

PLEASANTON, Calif., Feb. 12, 2015 /PRNewswire/ -- Start-up life sciences tools company Unchained Labs burst onto the scientific scene today, announcing a $25 million Series A Financing and the acquisition of Optim, the world's first and only multiplex protein stability platform for biologics. The financing was led by Novo Ventures, Canaan Partners and TPG Biotech.

The first Unchained product, Optim, lets scientists unlock optimal biologic formulations simply and quickly. For the first time, researchers can measure multiple protein stability parameters - including denaturing temperature and aggregation onset temperature - on multiple samples simultaneously. Assays are high throughput, label-free, ultra-low volume and very easy to run.

Over 60 Optim platforms have been sold to biopharma and academic customers worldwide. Unchained Labs purchased the Optim technology from The Avacta Group. The start-up plans to continue to buy businesses and product lines and add their magic touch for developing breakthrough products and selling them like crazy.

"We had a great experience with Tim in the life science tools space in the past and we believe there is a real opportunity to build another substantial company together," said Jack Nielsen from Novo Ventures. "Combining organic and inorganic growth has proven to be a powerful strategy for creating value in this space and we can't wait to see Unchained Labs grow."

"I love what I do and I am completely pumped about building another great tools company," said Tim Harkness, Founder and CEO of Unchained Labs. "For me this is all about people. The right group of people can accomplish anything, and we are starting out with fantastic investors and employees who are committed to creating something special together. Optim is a one-of-a-kind product that will provide a solid foundation for us."

About Unchained Labs

Unchained Labs is committed to building the next cool life science tools company. One that matters. One without old school rules. One with products that'll make a real difference in the research scientists do every day. We plan to buy businesses and product lines and then add our magic touch for developing breakthrough products and selling them like crazy. Our first product, Optim, is the world's first and only multiplex protein stability platform for biologics. We are located in Pleasanton, CA and can be found online at www.unchainedlabs.com.

Contact:

Tim Harkness

Founder and CEO, Unchained Labs

[email protected]

SOURCE Unchained Labs