North European full-service contract research organisation (CRO) LINK Medical has raised capital to fund further growth and invited Serendipity Partners as its part owner.
Currently, Serendipity holds 49% of the shares while LINK Medical CEO Dr Ola Gudmundsen still owns the rest of the shares.
Serendipity will offer growth capital to LINK Medical under this deal, which is chiefly structured as a share issue.
The companies intend to establish a robust Northern European CRO through the transaction.
LINK Medical has expanded steadily for nearly 27 years one step at a time.
The fundings obtained were used to expand LINK Medical, making the company one among the largest independent CROs in the Nordics.
The company chose to invite Serendipity as co-owner and long-term investor of LINK Medical to facilitate further expansion and offer new expertise to the CRO.
Serendipity’s Michael Bodd will serve as the board chairman in LINK Medical while Christopher Tangen will also be part of the board along with Ola Gudmundsen and Renee Amundsen.
Gudmundsen said: “As an investment fund specialising in life science, and with a base in Oslo, Serendipity Partners is the best partner for us.
“More than just capital, they can add knowledge and competence, as Serendipity is run by medical doctors, pharmacists, and others with an extensive experience in pharma or biotech industries.”
LINK Medical offers product development services to the pharmaceutical and medical device industries in Northern Europe.
In February this year, the CRO signed a partnership agreement with Viedoc for a new collaboration programme to boost clinical trial efficiency.