Portal Innovations Announces Partnership with Thermo Fisher Scientific

Rhea-AI Summary

Portal Innovations has partnered with Life Technologies Corporation, part of Thermo Fisher Scientific (NYSE: TMO), to enhance life sciences research capabilities. This collaboration aims to provide advanced lab equipment and infrastructure to startups at Portal’s 50,000 sq ft facility in Chicago. Patrick Flavin, President of Portal, emphasized that this partnership will allow member companies to accelerate their research and development efforts. Portal focuses on seed investments, management expertise, and access to top-tier lab space to support high-potential life sciences companies.

Positive

• Partnership with Life Technologies enhances access to advanced laboratory equipment for startups.
• Provides seed funding, lab space, and management expertise to promising biotechnology companies.
• Supports the growth of the life sciences ecosystem in Chicago through collaboration with Trammell Crow Company.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Portal Innovations today announced that it is partnering with Life Technologies Corporation, part of Thermo Fisher Scientific Inc. (NYSE: TMO) the world leader in serving science and a leading life sciences research provider of innovative technologies. This partnership will further Portal Innovations’ mission to provide premier scientific equipment and resources to its portfolio companies that work out of Portal’s 50,000 sq ft of life science laboratories in Fulton Labs in Chicago.

The partnership will combine Life Technologies’ world-class lab equipment and software with Portal’s seed investments and laboratory infrastructure to allow its portfolio of life sciences startups to quickly and efficiently access premier equipment and Class A lab space. “Our goal is to invest in promising biotechnology and enable them to begin their research and development from the moment they move into our fully equipped laboratory space,” said Patrick Flavin, Portal Innovations’ President, “This partnership with Life Technologies enables our member companies to utilize Life Technologies’ innovative life science and applied science products to accelerate life sciences research.”

Through its Crafted Capital™ model, Portal invests seed financial funding, offers access to fully equipped wet and dry lab space, and provides management expertise to leading scientific and entrepreneurial founders. Portal is building a valuable portfolio of life sciences companies at the seed to series A investment stage for long-term value creation.

Portal has partnered with Trammell Crow Company, one of the largest commercial real estate developers in the United States, to catalyze the Chicago regional life sciences ecosystem at the Fulton Labs Campus and is currently investing in and supporting companies in its existing 50,000 square feet of wet and dry lab and office space at 1375 West Fulton Street and 400 North Aberdeen Street.

About Portal Innovations

Portal Innovations is a premier venture development engine that bridges scientific ideation in life sciences, medtech, and bioinformatics through commercial proof of concept by delivering crafted capital, including seed funding, specialized equipment, lab space, and management expertise to high-potential early-stage companies. For more information, please visit www.portalinnovations.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005159/en/

Portal Innovations

Patrick Flavin

312-550-0647

Source: Portal Innovations

FAQ

What is the significance of Portal Innovations' partnership with Thermo Fisher Scientific (TMO)?

The partnership allows Portal Innovations to provide startups with advanced lab equipment and infrastructure essential for accelerating life sciences research.

How will the partnership with Life Technologies impact startups in the life sciences sector?

Startups will gain access to top-tier lab space and innovative life science products, which will enhance their research and development capabilities.

What is the size of the lab space provided by Portal Innovations in Chicago?

Portal Innovations operates a 50,000 sq ft facility, offering both wet and dry lab space for life sciences startups.

Who is leading Portal Innovations?

The company is headed by President Patrick Flavin, who emphasizes the importance of supporting biotechnology startups.

What type of support does Portal Innovations offer to early-stage life sciences companies?

Portal Innovations provides seed funding, access to lab equipment, and management expertise to help companies progress from seed to series A investment stages.