WALTHAM, Mass.--(BUSINESS WIRE)-- To support the Greater Boston biotech ecosystem, Thermo Fisher Scientific is joining forces with biotech incubator LabShares Newton to provide instruments, lab equipment and consumables to help early-stage life sciences companies accelerate their drug discovery efforts.

LabShares provides fully furnished lab space, services and equipment to more than 25 biotech companies, alleviating logistics constraints to help them bring novel therapeutics to market. Thermo Fisher will outfit the shared lab space with equipment including ultra-low temperature freezers, cell culture incubators, microscopes and PCR instruments.

“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 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, emerging companies are looking to the suburbs for more accessible and affordable lab space,” said Jeff Behrens, CEO and founder, LabShares. “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.”

While investment in the biotech industry continues to climb, the high cost of bringing drugs through research and development to the market is limiting many early-stage companies from flourishing. By offering alternative lab space and more tailored support and resources, LabShares and its partners are helping emerging biotech companies clear hurdles that previously hindered growth for smaller companies trying to break through the market.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.

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