SciSafe acquired and invested by 1315 Capital for expansion of biostorage solutions
11/14/24, 1:20 PM
Location
philadelphiacranburyIndustry
venture capital
medical
biotechnology
health care
biotechnology
SciSafe, a leading provider of biological and pharmaceutical storage services, has announced its acquisition and growth capital investment by 1315 Capital, a Philadelphia-based growth equity firm. With this acquisition, SciSafe is established as a standalone business and will focus on expanding its customized and comprehensive biostorage solutions. Garrie Richardson, founder and former CEO of SciSafe, is rejoining the company as CEO and board member with the transaction, expressing excitement about the partnership and expansion plans.
Company Info
Location
Philadelphia, Pennsylvania, United States
Company info
1315 Capital provides expansion and growth capital to commercial-stage healthcare services, medical technology, medtech & pharma outsourcing, and health & wellness companies. We believe that these investment areas are attractive largely due to numerous niche market sub-segments and business models where high-quality management teams can rapidly grow small platform companies, in a capital efficient way, into large and important businesses. The firm targets $10-$40 million investments in commercial healthcare entities that we believe have the potential to scale to approximately $100 million of revenue, a level we believe is highly attractive for acquisition or to access the public markets.