Thermo Fisher Scientific and LabShares Partner to Support Emerging Boston Biotechs

Thermo Fisher Scientific is teaming up with biotech incubator LabShares Newton to provide support to the biotech ecosystem in Boston. Through the collaboration, the partners will provide instruments, lab equipment, and consumables to help early-stage life sciences companies accelerate drug discovery efforts, according to a May 19, 2022 company press release.

LabShares provides fully furnished lab space, services, and equipment to more than 25 biotech companies, which alleviates logistics constraints in bringing novel therapeutics to market. Under the agreement, Thermo Fisher will outfit the shared lab space with equipment, including ultra-low temperature freezers, cell culture incubators, microscopes, and polymerase chain reaction instruments.

Although investment in the biotech industry continues to climb, the high cost of bringing drugs through R&D to market is limiting for many early-stage companies. By offering alternative lab space and more tailored support and resources, LabShares and its partners aim to aid emerging biotech companies clear hurdles that previously hindered growth for smaller companies trying to break through to the market, according to the press release.

“Thermo Fisher Scientific is incredibly excited to partner with LabShares in support of the emerging life science and biotech companies in Newton,” said Angela N. Hokanson, vice-president, corporate accounts, Thermo Fisher Scientific, in the press release. “In line with our mission to enable our customers to make the world healthier, cleaner, and safer, we look forward to collaborating with LabShares and their members to innovate, validate, and commercialize the next generation of life-saving therapies.”

“With little lab space available in historic biotech hubs such as Cambridge [Mass.], emerging companies are looking to the suburbs for more accessible and affordable lab space,” said Jeff Behrens, CEO and founder, LabShares, in the press release. “Working with partners such as Thermo Fisher allows LabShares to provide a caliber of equipment that smaller companies may not otherwise have access to, empowering promising biotech startups to hit the ground running.”

Source: Thermo Fisher Scientific