Richmond, Va.-based specialty pharmaceutical company Intelliject Inc. has raised $15 million in debt financing from Hercules Technology Growth Capital Inc. The infusion will help support development, the company says.
Intelliject, Inc., a specialty pharmaceutical company pioneering the next generation of drug/device combination products, today announced that it has entered into a $15 million debt facility with Hercules Technology Growth Capital, Inc. (NYSE:HTGC) to enable Intelliject to accelerate the development of key pipeline products. Hercules is a leading specialty finance company providing customized debt financing for entrepreneurial venture capital and private-equity backed companies in technology-related markets including cleantech and life science.
These funds will enable Intelliject to fund the development of select pipeline products simultaneously with final preparation for the launch of its lead product, e-cue™, in North America through its partner, Sanofi.
Commenting on the new financing, Spencer Williamson, President and CEO of Intelliject, said, “Hercules is a top tier financial partner and we are pleased with this debt capital facility which enables Intelliject to immediately advance the product development program for our exciting pipeline.”
Chad Norman, Hercules Managing Director, said, “We have been closely following Intelliject and have been impressed with the progress they have made on their lead product, e-cue™. We are now excited to support Intelliject’s targeted pipeline development.”
ABOUT INTELLIJECT, INC.:
Intelliject is a specialty pharmaceutical company dedicated to developing drug/device combination products that empower patients to gain freedom from their medical conditions. Each Intelliject product combines an established drug with an innovative delivery platform with the goal of achieving superiority, patient preference and cost effectiveness.
Intelliject applies rigorous selection criteria to identify areas where its patient-centric approach and proprietary technology will offer superior solutions. The company only proceeds to an active development program once it has established that incremental clinical and economic benefit is achievable.
Intelliject is a privately-held company headquartered in Richmond, Virginia.
For online information please visit www.intelliject.com.
ABOUT HERCULES TECHNOLOGY GROWTH CAPITAL, INC:
Hercules Technology Growth Capital (NYSE: HTGC), is a specialty finance firm providing customized loans to public and private technology-related companies, including clean technology, life science and select lower middle market technology companies at all stages of development. Since inception, Hercules has committed more than $2.8 billion to over 200 companies and is the lender of choice for entrepreneurs, venture capital and private equity firms seeking ideal, customized growth capital financing at all stages of a company’s development to accelerate business growth and reach the next critical milestone. Hercules common stock trades on the NYSE under the ticker symbol “HTGC”. In addition, the Company’s 7.00% Senior Notes due 2019 trade on the NYSE under the symbol “HTGZ”. For more information, please visit www.htgc.com.
Intelliject Disclaimer: In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Intelliject’s current expectations or forecasts of future events. These may include statements regarding anticipated development of potential products; interpretation of clinical results; prospects for regulatory approval; manufacturing development and capabilities; market prospects for its products;and other statements regarding matters that are not historical facts. Some of these forward-looking statements may be identified by the use of words in the statements such as “estimate,” “intend,” or other words and terms of similar meaning. Statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Intelliject cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Intelliject undertakes no obligations to update or revise these statements, except as may be required by law.