Bridge Capital Holdings, whose subsidiary is Bridge Bank, announced it has provided TrialScope 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 sponsors to comply with legislation and internal policy, address disclosure risk, register clinical trials and disclose results worldwide.
The credit facility will support their growth and working capital needs.
Bridge Bank’s Boston Technology Banking Team relationship manager Ben Kirtland said: "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."
TrialScope chief financial officer Richard Aguinaldo said: "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."