Ricerca Biosciences has completed a financial restructuring that includes new equity and term facilities approaching $50 million.

The company has been focused in the past several years on assembling a range of chemistry and biological capabilities to service North American biotechnology and pharmaceutical clients. Ricerca provides integrated chemistry and biological solutions to biotechnology and emerging pharmaceutical clients from discovery to IND at a single site location, according to a company statement.

Executive chairman R. Ian Lennox remarked, “Ricerca is embarking on the implementation of a multi-year business plan to invest over $15 million to add chemistry and biological laboratories, instrumentation and training for over 250 people at its site in Concord, Ohio. Growth in client demand for our capabilities necessitates our continued expansion and investment.”