Bankruptcy of an ambitious laboratory startup worth millions

“The company’s economic foundation has recently collapsed,” explains Karl Quendler from Credit reform. The company currently employs three employees.

From a bearer of hope to a case of bankruptcy

CarlLabs, formerly Abundance GmbH, positioned itself as an infrastructural enabler for young biotech startups. The business model: High-quality laboratory workstations – including modern BSL-1 and BSL-2 laboratories – should make it easier for founders to take the costly step from basic research to market readiness.

The pilot project at Carlbergergasse 66 in Vienna’s 23rd district was initially considered a success. Ultra-modern laboratories were created on around 1,200 square meters and were quickly rented out after completion in 2023. Several well-known strategic investors supported the concept with qualified subordinated convertible loans and premiums totaling around 1.25 million euros.

Chain reaction of bankruptcies and market collapse

But the success story didn’t last long. Two of the largest tenants themselves went bankrupt – with serious consequences for CarlLabs. Rental income collapsed, fixed costs remained. At the same time, market conditions in the biotech and real estate sectors deteriorated noticeably.

Another serious blow followed in February 2025: bankruptcy proceedings were opened over the assets of 6B47 Real Estate Investors AG, partner in the planned major CarlLabs project. Together they wanted to build a biotech hub at Breitenfurter Straße 148 with 18,000 square meters of laboratory space and an investment volume of over 100 million euros – a flagship project that is now finally history.

Numbers that are sobering

According to Creditreform, around 31 creditors are affected by the insolvency. The liabilities add up to exactly 4,172,695.46 euros. This is offset by fixed assets with a book value of around 1.83 million euros.

Uncertain future

According to Creditreform, the insolvency administration, which has yet to be appointed, must now examine whether continuing the company – for example in a smaller form or through an investor – makes sense and is economically viable in the interests of the creditors.

However, one thing is already clear: the bankruptcy of CarlLabs shows how fragile even well-financed and strategically sensible business models in the high-tech sector can be when several external shocks come together. For the biotech location Vienna, the CarlLabs case is more than just an individual bankruptcy – it is a warning signal.