CHICAGO--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
PORTAL INNOVATIONS SIGNS SPONSORSHIP AGREEMENT WITH THERMO FISHER SCIENTIFIC
Portal Innovations today announced that it has signed a sponsorship agreement with Thermo Fisher Scientific Inc. The agreement will further Portal Innovations’ mission to provide premier scientific equipment and resources to its portfolio companies that work out of Portal’s 50,000 square feet of life science laboratories in Fulton Labs in Chicago.
The agreement gives Portal Innovation access to Thermo Fisher’s life sciences portfolio and combines Thermo Fisher’s world-class lab equipment and software with Portal’s seed investments and laboratory infrastructure to allow its portfolio of life sciences startups to optimally access critical resources needed to launch and run derisking experiments.
“Our goal is to invest in promising biotechnology companies 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 agreement enables our member companies to utilize Thermo Fisher’s 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.
“Our agreement with Portal Innovations reflects our commitment to support the development of new technologies, new companies, and ultimately life-saving therapies,” said Kim Baltier, vice president of Global Commercial Operations for biosciences at Thermo Fisher. “This is consistent with our mission to enable our customers to make the world healthier, cleaner and safer.”
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 venture capital firm that helps the most promising life sciences innovators build companies where they live. We provide seed capital, fully equipped lab space, and industry expertise and introductions to potential investors and partners. We offer 50,000 square feet of lab space in Chicago with more planned in Atlanta. For more information, please visit www.portalinnovations.com.
