Company raised $330 million in the past 18 months to accelerate growth of integrated lab space offerings including multifunctional R&D labs, vivarium, pilot-scale manufacturing, and cGMP
BOSTON–(BUSINESS WIRE)–SmartLabs, a Boston-based Laboratory-as-a-Service (LaaS) leader, today announced the raise of a $250 million Series B financing. The funding round was led by ArrowMark Partners. New investment partners include Winslow Capital Management and Onex Falcon, joined by existing investors ArrowMark Partners, Conversion Venture Capital (CVC2) and Breed’s Hill Capital. The funding will fuel the company’s accelerated growth, with a plan to scale operations to 2 million square feet within five years. In addition, SmartLabs announced the launch of the fourth version of its proprietary laboratory operations system (SmartLabs OS) which was first pioneered and introduced in 2016.
“This recent funding influx further validates the SmartLabs approach – a total reimagining of a contract research organization that bundles tech-enabled lab infrastructure and services without sacrificing intellectual property. Since 2020, we have successfully raised $330 million, allowing SmartLabs to expand operations at a time when demand for lab space is rising. By rapidly scaling our global outsourcing platform that incorporates the scientific and infrastructure resources that are needed for companies of various stages and sizes, we are changing the face of the drug discovery, pre-clinical, and clinical development industries,” said Amrit Chaudhuri, CEO and co-founder of SmartLabs.
SmartLabs currently offers flexible lab and office spaces that are customizable to accommodate research groups from fewer than 10 to more than 200 persons on the East and West Coasts. SmartLabs delivers fully resourced environments at enterprise-scale that offer multifunctional research & development spaces, vivariums, process development and pilot-scale suites, and cGMP capacity under one roof. This unique ability allows companies of all stages and sizes to launch, scale, and shift as programs and projects rapidly evolve and advance.
SmartLabs’ integrated research centers have dozens of programs accelerating development of cell therapies, gene therapies, and personalized genomic medicine. SmartLabs resourcing helps research advance from discovery to process development, animal trials, GxP execution, and through clinical trials. SmartLabs’ integrated and flexible resources ensure companies are better resourced and more nimble as they tackle today’s toughest scientific challenges.
In September of this year, SmartLabs OS v.4.0, SmartLabs’ proprietary lab platform and operating system, launched, expanding and improving upon the company’s currently available operating system. SmartLabs OS allows member companies to effectively manage and streamline operations within their laboratory and office spaces and is used across all SmartLabs locations.
“As the hunt for lab space and real estate heats up, SmartLabs is a proven alternative to the traditional resource model. We no longer need to accept single function lab space, disparate research teams, high upfront capital investments, and long-term commitments as the norm. SmartLabs allows our scientists to focus on what matters – optimizing our research and hitting key milestones,” said Dr. Chad Cowan, Scientific Founder of CRISPR Therapeutics and Co-Founder of Sana Biotechnology.
“SmartLabs embeds the latest technologies in infrastructure, settings and controls, automation, and workflow insights and applies advances in construction and operating technology that, ultimately, improve the process of scientific discovery,” said Nathan Dowden, Chief Operating Officer of Entrada Therapeutics.
Teams of all sizes and stages choose SmartLabs to enable a less expensive and faster launch, allowing them to save as much as 45% in the first three years. SmartLabs maximizes companies’ capital efficiency by reducing costs, minimizing delays, and allowing for the shedding of static resources. To learn more please email info@smartlabs.com or visit SmartLabs.com.
About SmartLabs
SmartLabs designs, builds, and operates integrated, enterprise-grade research environments, including multifunctional research and development labs, vivariums, process development, pilot-scale manufacturing, and cGMP suites for companies of all sizes. SmartLabs currently operates four locations in Massachusetts – Kendall Square, East Cambridge, Boston Landing, and the Seaport District, as well as one location in California – South San Francisco. SmartLabs provides in-house design, architecture, and construction management, as well as full-service lab operations and facilities management and a suite of shared amenities. For more information, please email info@smartlabs.com or visit SmartLabs.com.
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