Minerva Imaging Partners with Nordic Capital to Accelerate Radiopharmaceutical Growth

• Minerva Imaging has partnered with Nordic Capital to expand its integrated CRO and CDMO services in radiopharmaceutical development.

• The company reported 2024 revenue exceeding DKK 225 million and expects transaction completion in Q3 2025.

Minerva Imaging, a science-focused Contract Research Organisation (CRO) and Contract Development and Manufacturing Organisation (CDMO), has entered a strategic partnership with Nordic Capital to scale its global radiopharmaceutical platform. The deal, which is subject to regulatory approvals, is expected to close in Q3 2025.

Founded in Denmark, Minerva Imaging specialises in targeted radioligand therapies and offers integrated services spanning molecular imaging, oncology, and cardiovascular models. The company employs over 150 professionals, including many PhD-level scientists, and achieved revenues exceeding DKK 225 million in 2024.

The collaboration with Nordic Capital will support Minerva’s ambitions for global expansion, enhancing both its scientific capabilities and operational footprint. “Partnering with Nordic Capital for our next growth phase will enable us to strengthen and extend our integrated service offerings to our valued customers and collaborators,” said Carsten H. Nielsen, CEO and Founder of Minerva.

Nordic Capital, a leading investor in the healthcare sector, has committed EUR 3.2 billion to its Evolution platform, which focuses on middle-market growth companies. Minerva represents the eleventh investment under this initiative since its inception in 2021.