Life sciences business Kinapse has been invested in by London-based firm Synova Capital to allow the company to pursue strategic acquisitions.

Founded in 2005 by former Accenture partners Nick Edwards and Andy Black, Kinapse supplies consulting and outsourcing services to the life sciences industries and has clients in the pharmaceutical, biotechnology and medical devices sectors.

Black, CEO of Kinapse, says the support will allow it to take advantage of what he says is a ‘strong pipeline’ of new business.

He adds, ‘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 costs.

‘We will consider strategic acquisitions in complementary sectors and geographies.’

Synova Capital currently has a portfolio of invested companies including TLG Brands, which supplies affordable luxury handbags and accessories, residential care facilities business Clearwater Care and cloud computing company cloudxl.

Managing partner of Synova and new director of Kinapse Philip Shaprio, adds, ‘We believe that [Kinapse], which has seen outsourcing grow to 70 per cent of annual revenues, will benefit significantly from both the continued drive to reduce costs in major pharmaceutical companies and the increasing regulation of the life sciences sector.’

Synova invests in UK lower mid-market business with a focus on companies valued at between £5 million and £30 million. It targets companies in sectors such as business services, consumer brands and specialist engineering.