SmartLabs’ $48 million funding to accelerate scientific development

The company provides flexible laboratory infrastructure and resourcing solutions and welcomed the participation to the funding round from ArrowMark Partners, Winslow Capital Management, and Conversion Venture Capital (CVC2). 

The company said the Series C financing marks the ‘beginning of the next chapter in the advancement and optimization’ of its laboratory solution portfolio and follows several important strategic milestones.

This includes the appointment of industry veteran Brian Taylor as interim CEO earlier this month, and the launch of its new San Francisco-based CleanSuites offering and most advanced research center to date in August 2023 – positioning the company for sustained growth moving forward.

“This new round of financing underscores the confidence of our existing investors in SmartLabs’ unique lab infrastructure and resourcing solutions, validating the potential of our innovative model for the industry,” said Taylor.

“The financing will help us expand the boundaries of SmartLabs’ integrated operational model, and enhance our ability to deliver innovative, cost and capitally efficient solutions to accelerate scientific development and innovation across the biopharma industry. I’m excited about the opportunities ahead as we redefine the landscape of laboratory solutions and unlock unparalleled value for our customers.”

The company said it has observed that today’s biopharma landscape has ushered in a rise in diverse, novel therapies with the potential to address a multitude of complex and devastating diseases. It said realizing this promise ‘requires the ability to scale and adapt in ways that match the unprecedented pace and diversity of modern science’.

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