CIBC Innovation Banking Provides Redica Systems with $15MM Debt Financing
CIBC Innovation Banking announced today that it has provided $15MM in debt financing for Redica Systems, a data analytics platform helping life sciences companies reduce compliance risk and improve product quality. The funding will be used to continue expanding its product offerings to better serve clients and address evolving industry challenges.
Typically, quality and regulatory professionals rely on manual and time-intensive processes to manage the constantly changing regulatory landscape. Redica’s platform helps over 200 leading life science companies solve complex GxP (Good x Practice) compliance challenges, connecting quality assurance and regulatory surveillance on one platform.
Michale de la Torre, CEO of Redica Systems said: “We are aggressively investing in the next generation of data and analytics tools to transform how regulatory compliance is understood, simplified, and navigated. We are thrilled to have CIBC Innovation Banking supporting us on this journey.”
Michael Boyers, Director, CIBC Innovation Banking said: “Understanding compliance landscapes and deciding where to focus resources is a significant challenge for regulated industries, and Redica’s platform provides businesses with meaningful insights to reduce compliance risk. We’re excited to extend our support for the team as they continue their leadership within the regulatory risk space.”
About CIBC Innovation Banking
CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC Innovation Banking now has over $11 billion in funds managed including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation.
About Redica Systems
Redica Systems is a data analytics platform helping life sciences companies reduce compliance risk and improve product quality. Our Quality and Regulatory Intelligence transforms one of the industry’s most complete data sets, aggregated from hundreds of health agencies and standards bodies, into meaningful insights. For more information, visit: redica.com.