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news.Private equity and growth capital firm EdgeCap Partners has acquired a majority stake in Bulgarian clinical research solutions organisation (CRO) Comac Medical.
Comac Medical offers a complete range of early to late-phase drug development services. Credit: National Cancer Institute on Unsplash.
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Comac founder and CEO Dr Milen Vrabevski and its other shareholders will retain a significant minority stake.
The companies have not disclosed the financial terms of the deal.
Established in 1997, Comac Medical offers a complete range of early to late-phase drug development services across different therapeutic areas to pharmaceutical and biotech companies across the world.
To meet key milestones on time and on budget, the company works in collaboration with its clients for maximising opportunities and remains flexible to individual requirements.
The services can be contracted as part of a complete-service integrated programme or as stand-alone solutions.
Comac Medical founder Dr Milen Vrabevski said: “This transaction is a significant milestone for Comac Medical and its over 350 employees who contribute to our success daily.
“To continue our strong growth trajectory in the years to come and to meet our customers’ needs, we are looking to significantly expand operations while preserving our unique culture that has served as the foundation of our success.
“EdgeCap supports this vision and is committed to investing significant resources to capitalise on an exciting opportunity ahead.”
As part of the transaction, the company noted that EdgeCap co-founders Kristjan Piilmann and Christopher Backes, and senior operating partner Dr Günter Schmid will join its board of directors.
For the deal, Kingsley Napley offered legal counsel to Comac Medical and its shareholders.
WOLF THEISS provided legal counsel to EdgeCap for the transaction.
