Lower mid-market private equity firm Synova Capital has invested in life sciences-focused business Kinapse.
Financial details were not disclosed, although Synova's investment sweet spot is between £10m (€12.5m) and £20m.
Kinapse provides outsourced and consultancy services to the life sciences industry with a particular focus on regulatory and compliance services. Clients include the European Medicines Agency. The group has offices in the UK, India and the US.
“We are currently experiencing a strong period of growth as life sciences companies look to outsource more of their regulatory, pharmacovigilance and clinical development operations to increase operational flexibility and quality while reducing cost,” explained Andy Black, chief executive of Kinapse. Black went on to say that the investment will enable the group to take advantage of its pipeline of new business, as well as consider strategic acquisitions.
Kinapse was founded by two former senior Accenture partners in 2005, Nick Edwards and Andy Black, who are now chairman and chief executive respectively.
CIL provided commercial due diligence for the transaction, BDO provided financial due diligence. Legal advice was provided by Travers Smith.