The science lab is where you can spend your preciously earned or bought science points.
The science lab will allow you to make a name change, reallocate attribute points, reallocate ability points, and reset your villain. It will cost you 10 science points to change any of these the first time, but any time you want to do the same thing a second time, it will cost you 40 science points. You cannot change your villains avatar without resetting here; once you have chosen it, you're stuck with it. Resetting your squad will bring you back to default, level 1, choose your villain all over again, and choose your name again. And no, your money does not come with you. All the science points you purchased do not come with you, you lose everything. You're starting all over again.
The science lab is also where you use your real money to buy science points. These science points can buy you the following:
20 Science Points - 2 Ability Points 25 Science Points - 1 Hired Gun 12 Science Points - XXX Amount of Cash (5 times your total income in cash) 12 Science Points - Full recharge of health, energy and stamina (ammo) 20 Science Points - Claim 5 special weapons insurance
There is a maximum of 10 Hired Guns that you are allowed to bring to battle. 10 Hired Guns will cost you 250 Science Points, unless they are on sale, which is a total of approximately $40