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ICON acquires majority stake in MeDiNova Research

ICON PLC, a clinical research organization, acquired a majority stake in West Midlands, U.K.-based MeDiNova Research.

MeDiNova Research operates a network of 33 research sites in Europe and Africa and provides investigator based clinical research services.

Dublin-based ICON is a tools and services company and provides drug development solutions and services to the pharmaceutical and biotechnology industry.

Under the transaction, ICON has the right to acquire the remaining shares of MeDiNova Research by the third quarter of 2020.

Financial terms of the transaction were not disclosed.