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Tobin Scientific Closes $65M Investment to Accelerate Growth Across Life Sciences Infrastructure

News Provided by PR Newswire2025-05-07

Tobin Scientific Closes $65M Investment to Accelerate Growth Across Life Sciences Infrastructure

[07-May-2025]

BEVERLY, Mass., May 7, 2025 /PRNewswire/ -- Tobin Scientific, a leading provider of cGMP storage, biorepository services, and specialized logistics for the life sciences industry, announced today that it has closed a significant capital raise to support its next phase of growth. Denali Growth Partners and Truck 9 Partners led the minority growth equity investment, and Eastern Bank provided a comprehensive financing package to support Tobin Scientific's growth plans. The funding will be used to expand Tobin Scientific's cGMP-compliant storage and logistics capacity, broaden its geographic footprint in key pharmaceutical hubs, and support targeted M&A initiatives across the broader life sciences supply chain. There has been no change of control, and the executive management team remains in place.

Tobin Scientific announced today that it has closed a capital raise to fund next phase of growth.

Tobin Scientific is widely recognized for its white-glove approach to biopharma logistics, including cold chain transport, compliant storage solutions, and end-to-end project execution for laboratories, manufacturing sites, and biorepositories across the U.S. With more than 365,000 square feet of cold chain and ambient warehouse space and a robust portfolio of specialized transportation and storage services, Tobin Scientific will continue to invest in advanced technologies and infrastructure to support its customers' evolving needs.

"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. This investment is a testament to the dedication and expertise of our growing team and their commitment to the highest standards of service."

"We are pleased to provide this credit facility to support Tobin Scientific's strategic growth initiatives," said Gregory Buscone, Executive Vice President, Chief Commercial Banking Officer at Eastern Bank. "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."

"We are proud to invest in Tobin Scientific's continued growth. 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," said Jesse Lane, the Founder and Managing Partner of Denali Growth Partners. "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," added Alec Douglas of Denali Growth Partners.

Tom Babich, Managing Director of Stifel Financial Corp., served as the exclusive financial advisor to Tobin Scientific. Terms of the transaction were not disclosed.

About Tobin Scientific
Tobin is a trusted leader in biopharma cold chain, ambient storage, and transport & logistics services. With a national footprint and decades of experience, Tobin Scientific offers a wide range of services, including laboratory relocation, cold chain transport, and cGMP warehousing. The company is dedicated to ensuring the safe and reliable transport and storage of temperature-sensitive products. Visit TobinScientific.com for more information.

About Denali Growth Partners
Denali Growth Partners ("DGP") is a Boston-based growth equity firm with more than $750 million in Regulated Assets Under Management ("RAUM") as of May 1, 2025. DGP seeks to partner with rapidly growing and capital-efficient businesses. DGP helps management teams and companies accelerate growth through capital and strategic resource deployment. Additional information about DGP is available at denaligrowth.com.

About Eastern Bank
Founded in 1818, Eastern Bank is Greater Boston's leading local bank with approximately 110 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, Rhode Island and Connecticut. As of March 31, 2025, Eastern Bank had approximately $25.0 billion in assets. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes including through its Cambridge Trust Wealth Management division, the largest bank-owned independent investment advisor in Massachusetts with $8.4 billion in assets under management, and takes pride in its outspoken advocacy and community support that includes more than $240 million in charitable giving since 1994. An inclusive company, Eastern is comprised of deeply committed professionals who value relationships with their customers, colleagues and communities. Join us for good at www.easternbank.com. Eastern Bankshares, Inc. is the holding company for Eastern Bank. For investor information, visit investor.easternbank.com.

About Stifel Financial Corp.
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's website at stifel.com. For global disclosures, please visit stifel.com/investor-relations.

About Truck 9 Partners
Truck 9 Partners, based in Boston, MA, is a family investment firm that partners with and grows private companies providing physical and/or technical services and products. For more information, please visit truck9partners.com.