Lazard acquires minority stake in SkyCell

SkyCell is a Zurich-based startup that designs and manufactures smart hybrid containers that allow pharmaceutical companies to predict and eliminate the risks associated with transporting temperature-sensitive drugs. SkyCell's self-charging hybrid containers maintain stable temperature conditions, deflect shock absorption and sustain steady protection under extreme conditions and on long journeys. The embedded Internet of Things (IoT) sensors and shipment monitoring software provide a worldwide tracking infrastructure to ensure uniform stringent quality standards in near real-time.

The company has now welcomed Lazard Asset Management to the shareholders' board. Founded in 1848, LAM is a subsidiary of Lazard Ltd (NYSE: LAZ) and offers a range of equity, fixed income, and alternative investment products worldwide. With more than 300 investment professionals, LAM manages approximately $216 billion across a wide range of global, regional and country-specific traditional and alternative strategies – in listed equity and fixed income.

Commenting on their decision to invest in the startup, Mark Little, Managing Director and Portfolio Manager at Lazard Asset Management said: "Since its founding over ten years ago, SkyCell has built a business that measurably improves the pharmaceutical supply chain. Biologics is a rapidly growing segment of the pharmaceuticals market – creating a growing need for high-performing, affordable, and energy-efficient logistics solutions – and SkyCell is well positioned to help pharma companies reduce risk in transporting these temperature-sensitive drugs. We are excited about our investment in SkyCell and look forward to our partnership with them."

"We are proud to have earned the trust and support of an investor of Lazard Asset Management's calibre. This is a testament to the quality of our products and business and our growth ambition as a global leader in temperature-controlled container solutions and as a trusted partner to pharmaceutical companies worldwide, " remarked the startup in its blog post.

Following the transaction's closing in March 2023, SkyCell is now financially equipped to accelerate innovation, expand its global reach and increase customer value. The transaction details have not been disclosed.

(Press release/RAN)