SmartLabs Announces $48 Million Series C Funding to Advance Its Laboratory Infrastructure and Resourcing Solutions

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Jan 18, 2024, 07:00 ET

Financing will be used to further develop and optimize SmartLabs' innovative product portfolio in order to address the modern needs of customers across the life sciences industry

BOSTON, Jan. 18, 2024 /PRNewswire/ -- SmartLabs, the leading provider of flexible laboratory infrastructure and resourcing solutions, today announced the raise of a $48 million Series C financing. The funding round included participation from ArrowMark Partners, Winslow Capital Management, and Conversion Venture Capital (CVC2). The Series C financing marks the beginning of the next chapter in the advancement and optimization of SmartLabs' laboratory solution portfolio, and follows a number of important strategic milestones for the company – including 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."

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. But realizing this promise requires the ability to scale and adapt in ways that match the unprecedented pace and diversity of modern science. Innovative and flexible lab and manufacturing solutions are a critical success factor in drug development and delivery. With a continued tightened funding market and growing competition, these solutions also need to reduce risk and be capitally efficient to offer companies needed runway to meet important milestones.

SmartLabs delivers fully resourced lab environments at enterprise-scale that offer multifunctional research and development spaces, vivariums, process development and pilot-scale suites, and cGMP capacity under one roof on both the East and West Coasts. This unique ability allows companies of all stages and sizes to launch, scale, and shift as programs and projects evolve. By co-locating R&D infrastructure and resources with manufacturing solutions, SmartLabs facilitates unprecedented collaboration and access between all players in the R&D and manufacturing space. Clients are able to accelerate timelines while controlling their own science, saving 6-24 months in scale-up time and up to 95% in upfront capital expenditures, compared to traditional options.

"SmartLabs is pioneering nimble and capitally efficient laboratory and manufacturing resourcing solutions with the power to meet the ever-changing needs of scientific development," said Clayton Freeman, Portfolio Manager at ArrowMark Partners. "We're thrilled to support them in this mission and look forward to their next phase of growth. We're fully committed and wholeheartedly believe in SmartLabs' revolutionary solutions for the life sciences industry. The collective support from other investors is a testament to our shared enthusiasm, providing SmartLabs the tools they need to evolve in this dynamic market."

SmartLabs' integrated research centers offer dozens of programs accelerating the development of therapies across a wide spectrum of modalities, including cell therapies, gene therapies, and personalized medicine. Its flexible offerings ensure companies are better supported and resourced as they tackle today's toughest scientific challenges.

About SmartLabs
Founded in 2015, SmartLabs offers the first integrated platform combining flexible lab infrastructure, operations, and scientific expertise. Its Managed Research Centers allow companies to purchase private, enterprise-grade R&D infrastructure and manufacturing solutions "as-a-service" without upfront capital investments. With headquarters in Boston and locations across the U.S., SmartLabs serves over 120 diverse biotech, biopharma and life sciences organizations. For more information, visit www.smartlabs.com.

SOURCE SmartLabs