Bridge Capital Holdings, whose subsidiary is Bridge Bank, a full-service professional business bank headquartered in Silicon Valley and with offices located nationwide, announced it has provided TrialScope, Inc. with a $2 million revolving credit facility based on monthly recurring revenue.
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. This credit facility will support their 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," Kirtland added.
"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 simplifies the complexities of clinical transparency management. TrialScope is a proven solution that has been implemented successfully and rigorously tested in the most complex environments with solutions that are currently implemented at 12 of the top 30 global clinical trial sponsors, including 6 of the top 10. The company's market-driven solution and expertise enable sponsors to improve their clinical trial process, mitigate registry and lifecycle risk, and ultimately achieve greater compliance. TrialScope technology offers a fully validated SaaS platform hosted in a private cloud.