One of Medilink's members Tissue Regenix, a medical device developer , is set to raise £25m and create 30 new jobs in Yorkshire.
After raising the funds, Tissue Regenix will use the cash to develop its existing products including a blood vessel patch made from pig tissue. The company also plans to develop a heart valve using the same techology.
Tissue Regenix is also looking to fund product development, quality assurance, support regulatory and manufacturing teams as well as a move to new premises.
Executive chairman John Samuel said: "We are delighted to announce this material funding round which will transform our balance sheet and gives us the firepower to leverage our innovative technology platform.
"As well as allowing the company to develop a range of products simultaneously following the established medical device regulatory route, this commitment from both existing and new investors is a significant endorsement of the commercial potential of our broad product pipeline.
"We are also pleased to note that the planned expansion of key teams will potentially lead to the creation of up to 30 high quality medical technology jobs in Yorkshire.
"The directors continue to believe that our tissue products' ability to retain biomechanical and regenerative capabilities on implantation provides us with an attractive platform from which we aim to become a significant global player in regenerative medicine."
The placing will involve more than 180m new shares at a price of 13.75p raising £25m before expenses. It is fully underwritten by Peel Hunt.
A team from DLA Piper's Leeds office, led by partner Tom Heylen and supported by Victoria Rhodes, advised Tissue Regenix.