News Column

Hercules Technology Growth Capital Introduces Portfolio Update

July 7, 2014

Hercules Technology Growth Capital provided its Q2 2014 portfolio update.

"Hercules' origination activity was very strong during the second quarter, with new commitments totalling $198.6 million," said Manuel A. Henriquez, co-founder, chairman and chief executive officer of Hercules. "We are very pleased to have been able to continue to deploy our excess liquidity to a number of promising and innovative companies which also meet our stringent credit requirements. With a strong cash position and selective investment process, we believe Hercules is well positioned to continue meeting the robust demand for capital."

According to a company release, as of June 26, Hercules has originated approximately $198.6 million of debt commitments to new and existing portfolio companies.

Hercules said it has made new commitments to the following eleven companies, assisting in their future growth and development.

-$35.0 million commitment to Alimera Sciences, a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals.

-$30.0 million commitment to Nanotherapeutics, an integrated biopharmaceutical company with a major focus on developing a diversified proprietary pipeline of products having both biodefense and medical applications.

-$25.5 million commitment to CareCloud, a provider of cloud- based practice management, electronic health record, and medical billing software and services.

-$22.5 million commitment to SkyCross, a global designer and manufacturer of advanced antenna and RF solutions.

-$15.0 million commitment to Celator Pharmaceuticals, a pharmaceutical company developing advanced therapies to treat cancer based identifying synergistic ratios of drugs that improve tumor cell kill.

-$15.0 million commitment to a software company that provides a commerce platform for retailers.

-$10.0 million commitment to Pong Research, which develops cases for the Apple iPhone, iPad, and Android smartphones to increase range and transmit stronger signal, while reducing exposure to wireless energy.

-$10.0 million commitment to Quanterix, a provider of high definition diagnostics, including its Simoa platform uses single molecule measurements to access previously undetectable proteins.

-$10.0 million commitment to a specialty biopharmaceutical company focused on the development, manufacturing and commercialization of products for aesthetic medicine

-$4.5 million commitment to Poplicus, a software company that creates proprietary analytics from big data in the public sector.

-$4.0 million commitment to Zosano Pharma, a biopharmaceutical company developing a transdermal delivery technology for a broad range of therapeutic indications.

In addition, Hercules provided approximately $17.1 million of debt commitments and renewals to existing portfolio companies.

As of June 26, Hercules received approximately $68.1 million in principal repayments, of which approximately $38.7 million were unscheduled early repayments.

In April 2014, Hercules portfolio company Glori Energy completed its $185 million reverse merger with Infinity Cross Border Acquisition and closed a share tender offer and a warrant tender offer.

As of June 26, Hercules had warrant and equity positions in five (5) portfolio companies that had filed Registration Statements in contemplation of a potential IPO:


-Dance Biopharm

-Good Technology

-Zosano Pharma

-One company filed confidentially under the Jobs Act

Hercules Technology Growth Capital is a specialty finance company.

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Source: Professional Services Close - Up

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