Tobin Scientific, a leading provider of cGMP storage, biorepository services, and specialized logistics for the life sciences industry, has secured a $65 million investment to fuel its expansion plans. The minority growth equity investment, led by Denali Growth Partners and Truck 9 Partners, along with a comprehensive financing package from Eastern Bank, will support the company's next phase of growth while maintaining its current executive leadership team.
The Beverly, Massachusetts-based company plans to use the capital to expand its cGMP-compliant storage and logistics capacity, extend its geographic footprint in strategic pharmaceutical hubs, and pursue targeted mergers and acquisitions across the broader life sciences supply chain.
Strategic Expansion to Support Pharmaceutical Development
Tobin Scientific has established itself as a critical infrastructure provider for the pharmaceutical and biotechnology sectors, offering specialized services including cold chain transport, compliant storage solutions, and end-to-end project execution for laboratories, manufacturing sites, and biorepositories throughout the United States.
With more than 365,000 square feet of cold chain and ambient warehouse space already in operation, the company provides essential services that support pharmaceutical development from early research through commercial manufacturing.
"This capital raise marks a major milestone for our team and organization," said Brian Tobin, CEO of Tobin Scientific. "We're building critical infrastructure to support our clients at every stage of the R&D and manufacturing lifecycle from discovery through commercialization. Our partners share that vision, and this investment enables us to continue scaling with confidence and purpose."
Meeting Critical Industry Needs
The investment comes at a time when reliable cold chain logistics and compliant storage have become increasingly vital to the pharmaceutical industry, particularly for temperature-sensitive biologics, cell and gene therapies, and other advanced therapeutic modalities.
Tobin Scientific's "white-glove" approach to biopharma logistics has resonated with clients seeking specialized handling for sensitive materials and products. The company's comprehensive service portfolio includes laboratory relocation, cold chain transport, and cGMP warehousing.
Gregory Buscone, Executive Vice President and Chief Commercial Banking Officer at Eastern Bank, highlighted the importance of Tobin's services: "Tobin Scientific's commitment to expanding critical infrastructure and specialized pharma services plays a vital role. We are proud to help enable their vision of meeting the evolving needs of their customers in the Boston area and nationwide."
Investment Partners See Long-Term Potential
The investment partners expressed confidence in Tobin Scientific's growth trajectory and strategic vision. Jesse Lane, Founder and Managing Partner of Denali Growth Partners, noted: "The company's strong track record and strategic vision highlight its commitment to becoming the leading vertically integrated services provider to the pharmaceutical industry, with innovative, forward-thinking solutions."
Alec Douglas of Denali Growth Partners added that "Tobin Scientific's ability to drive sustained revenue growth is a direct result of its unwavering focus on meeting customer needs with consistency, reliability, and white-glove service."
Denali Growth Partners, a Boston-based growth equity firm with more than $750 million in Regulated Assets Under Management, specializes in partnering with rapidly growing and capital-efficient businesses.
Future Growth Initiatives
The funding will enable Tobin Scientific to continue investing in advanced technologies and infrastructure to support its customers' evolving needs. The company's expansion plans align with increasing demand for specialized logistics and storage solutions in the pharmaceutical sector, particularly as complex biologics and personalized medicines become more prevalent.
Tom Babich, Managing Director of Stifel Financial Corp., served as the exclusive financial advisor to Tobin Scientific for the transaction. While specific terms were not disclosed, the investment represents a significant vote of confidence in the company's business model and growth potential.
As pharmaceutical development continues to advance with increasingly complex and temperature-sensitive products, Tobin Scientific's expanded capabilities will provide critical support for the industry's evolving infrastructure needs.
