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Tobin Scientific Closes $65M Investment to Accelerate Growth Across Life Sciences Infrastructure
Prnewswireยท 2025-05-07 13:15
Core Insights - Tobin Scientific has successfully closed a significant capital raise to support its growth phase, led by Denali Growth Partners and Truck 9 Partners, with financing from Eastern Bank [1][5][6] Company Overview - Tobin Scientific is a leading provider of cGMP storage, biorepository services, and specialized logistics for the life sciences industry, recognized for its white-glove approach to biopharma logistics [4][8] - The company operates over 365,000 square feet of cold chain and ambient warehouse space, offering a robust portfolio of specialized transportation and storage services [4] Growth Strategy - The capital raised will be utilized to expand cGMP-compliant storage and logistics capacity, broaden geographic presence in key pharmaceutical hubs, and support targeted M&A initiatives across the life sciences supply chain [1][5] - The investment is aimed at building critical infrastructure to support clients throughout the R&D and manufacturing lifecycle, from discovery to commercialization [5] Financial Partners - Denali Growth Partners and Truck 9 Partners are leading the minority growth equity investment, while Eastern Bank is providing a comprehensive financing package [1][5][9] - Eastern Bank, with approximately $25.0 billion in assets as of March 31, 2025, is committed to supporting Tobin Scientific's strategic growth initiatives [10] Leadership and Vision - The executive management team at Tobin Scientific remains unchanged, emphasizing continuity in leadership during this growth phase [1] - The CEO, Brian Tobin, highlighted the investment as a testament to the dedication and expertise of the team, reinforcing the company's commitment to high service standards [5]