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Avidbank Corporate Finance Provides $1.5MM to November Research Group

February 27, 2014, 06:58 AM
Filed Under: Software

Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided November Research Group, LLC, $1.5 million in various senior debt facilities. These facilities will be used to help the company fund its continued growth.

November Research Group delivers software tools and professional services for medical product safety that enable life science organizations, from the largest global pharmaceutical companies to emerging biotech and contract research organizations, to improve patient and public safety. With a presence in the US, India and Japan, they are commonly recognized as a leader in the drug safety and pharmacovigilance field.

“I am pleased we were able to put these facilities in place for November Research Group,” stated Avidbank Corporate Finance Executive Vice President, Mike Hansen. “As a leader in their industry, they are the type of business our corporate finance division is looking to fund. We look forward to a long and mutually beneficial relationship.”

Seth Warhaftig, President of November Research Group, commented, “The ability to establish these types of credit facilities signals the progress that November Research Group has made and the sustainability of our growing business. These facilities will provide us with the flexibility to meet any potential liquidity needs as we continue to aggressively grow our business. We are excited to establish this partnership and are looking forward to a long-term relationship with Avidbank.”

Avidbank Holdings, headquartered in Palo Alto, California, offers innovative financial solutions and services.

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