Daily News: May 29, 2012

Intelliject Enters Into $15 Million Debt Financing With Hercules

Intelliject, Inc., a specialty pharmaceutical company pioneering the next generation of drug/device combination products, announced that it has entered into a $15 million debt facility with Hercules Technology Growth Capital, Inc. to enable Intelliject to accelerate the development of key pipeline products.

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.”

Intelliject is a specialty pharmaceutical company dedicated to developing drug/device combination products that empower patients to gain freedom from their medical conditions.

Hercules is a 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.