Bridge Bank Provides TrialScope Credit Facility
Bridge Capital announced that it has provided TrialScope with a $2 million revolving credit facility based on monthly recurring revenue. This credit facility will support the company’s growth and working capital needs.
“With an industry leading solution for clinical trial transparency, TrialScope is providing the top biotech and pharmaceutical companies with a platform that reduces risk, helps manage global registration and disclosure processes more effectively and provides tremendous cost savings while ensuring compliance,” said Ben Kirtland, relationship manager in Bridge Bank’s Boston Technology Banking Team. “We are pleased to be partnering with the TrialScope team as they enter an exciting phase of growth.”
“We are thrilled to be teaming up with Bridge Bank as TrialScope embarks on creating a new industry category in the evolving world of clinical trial disclosure and compliance,” said Richard Aguinaldo, chief financial officer for TrialScope. “This credit facility will help fuel our growth by ensuring we are providing our renowned client base and future clients with a world-class solution suite that enables clinical trial sponsors to increase productivity, get products to market much quicker and stay in compliance within a heavily regulated environment.”
TrialScope provides clinical trial sponsors with an integrated set of solutions that enables them to comply with legislation and internal policy, address disclosure risk, register clinical trials, and disclose results across the globe.