Biotech hub outsources R&D to marketplace provider

Biotech innovation hub LabCentral has signed Science Exchange, the platform for outsourced R&D, to support its life science and biotech resident startups.

Companies within LabCentral’s shared workspaces in Cambridge, US, can now order R&D services instantly via a customised Science Exchange-powered marketplace, with access to more than 2,500  qualified scientific service providers.

“We’ve designed LabCentral as a supportive and nurturing environment designed to inspire interaction and collaboration, providing everything that early-stage companies need to thrive, moving their science forward faster, and cost-effectively,” said LabCentral Cofounder and President Johannes Fruehauf. “We’re thrilled to have Science Exchange support our companies by offering instant access to their network of innovative service providers — it’s another way we can provide our startups the resources they need to accelerate their groundbreaking discoveries.”

LabCentral joins more than 30 enterprise clients that are using Science Exchange-powered marketplaces to manage their outsourced R&D. This partnership addresses the needs of LabCentral’s unique ecosystem, giving its startup network the same level of access to advanced scientific services that is enjoyed by Science Exchange’s established global pharmaceutical and biotechnology clients.

LabCentral claims to be a first-of-its-kind shared laboratory space designed as a launchpad for high-potential life science and biotech startups. It offers fully permitted laboratory and office space for dozens of startups. It also provides facility and administrative support, skilled laboratory personnel, and other critical services and support that early-stage companies need to begin laboratory operations on day one.

The Science Exchange marketplace will help LabCentral’s resident companies:

• Gain immediate access to a network of more than 2,500 service providers that have been qualified through a stringent, ISO 9001-certified evaluation process that includes metrics tied to performance on past projects.
• Reduce administrative and regulatory review costs. Science Exchange’s in-house audit team also conducts
  inspections to ensure that contracted service providers possess necessary certifications, licenses,
  informed consent of subjects, and data security.
• Save time and money. The LabCentral entrepreneurs and startups working on groundbreaking
  scientific discoveries will now be able to quickly request competitive bids through the Science
  Exchange platform and select the right partner to keep their projects on track.