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Unchained Labs acquires Freeslate, marking the company’s fourth acquisition in the past 12 months.
On Feb. 18, 2016 Unchained Labs announced the acquisition of Freeslate, a provider of high-throughput solutions for biologics formulation development and small-molecule chemistry. This marks Unchained Labs fourth acquisition in the past 12 months.
According to a press announcement from Unchained Labs, Freeslate has been partnering with the biopharma industry for more than 20 years, developing configurable automation solutions. Freeslate’s FormPrep platform automates biologic formulation preparation, releasing up to 12 formulations a day with 20 minutes of preparation time.
“Freeslate has made great progress over the past five years, and this transaction makes great sense for business, our customers and employees,” said John Senaldi, president and CEO of Freeslate, in a press announcement. “Unchained Labs shares Freeslate’s commitment to customer success and I’m confident the business is in the right hands.”
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.
Source: Unchained Labs