Insmed Secures $20 Million With Hercules Technology Growth Capital
Insmed Incorporated, a biopharmaceutical company focused on developing inhaled therapeutics for serious diseases of the lung, announced that it has entered into a loan agreement with Hercules Technology Growth Capital, Inc, a provider in customized debt financing for companies in life sciences and technology-related markets. Hercules will provide Insmed with access to a term loan of up to $20 million.
“We project that this loan agreement will extend our cash runway well into 2014,” said Timothy Whitten, president and CEO of Insmed. “Our focus remains on the timely generation of top-line data from our three prioritized ARIKACE