Intelliject, Inc., a specialty pharmaceutical company pioneering the next generation of drug/device combination products, 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.”
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