Hercules Technology Growth Capital Provides $8.0M Financing To Acceleron Pharma, A Leading Biopharmaceutical Company Focused On Metabolic And Musculosketal Therapeutics

PALO ALTO, Calif., Jan. 5 /PRNewswire-FirstCall/ -- Hercules Technology Growth Capital, Inc. (Nasdaq: HTGC - News), a leading debt and equity growth capital provider to technology and life science companies, today announced it has provided $8.0 million of growth capital debt financing to Acceleron Pharma, Inc., a biopharmaceutical company developing therapeutics for metabolic and musculoskeletal diseases in areas of important and unmet medical needs.

"Acceleron Pharma, with its world-class science team and rich portfolio of assets, is developing important drugs that will make a significant difference in patients' lives," said Parag Shah, managing director, Life Sciences of Hercules. "Since their Series A raise in February 2004, Acceleron Pharma has made extraordinary progress in advancing their pipeline. We are excited to partner with them as they prepare to initiate a Phase I clinical study in Q1 of this year, with their lead product candidate targeting bone loss. Our partnership will provide Acceleron with sufficient capital into 2007 to advance a second product candidate into the clinic and position them to initiate phase II clinical studies with their bone loss candidate."

Acceleron Pharma secured the largest Series A raise in the Boston area in 2004, from an investor syndicate with proven experience in funding and developing Life Science companies -- Advanced Technology Ventures, Flagship Ventures, Polaris Ventures, Sutter Hill Ventures and Venrock Associates.

About Hercules Technology Growth Capital:

Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialized finance company providing debt and equity growth capital to technology-related companies at all stages of development. The company primarily finances privately-held companies backed by leading venture capital and private equity firms and also may finance certain publicly-traded companies. Hercules focuses its investments in companies active in technology and technology-related industries such as computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure, Internet consumer and business services, telecommunications, and life sciences. The company's investments are originated through its principal office located in Silicon Valley, as well as additional offices in the Boston, Boulder and Chicago areas. Providing capital to publicly traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses.

For more information, please visit http://www.herculestech.com . Companies interested in learning more about financing opportunities should contact info@herculestech.com or call 650-289-3060.

About Acceleron Pharma:

Acceleron Pharma, based in Cambridge, MA, is focused on developing biotherapeutics by selectively modulating specific signaling pathways in the TGF-B superfamily. This superfamily plays a central role in the remodeling of adult tissues such as bone, muscle and fat, and provides a largely untapped source of therapeutic opportunities. A number of the company's academic founders and advisors conducted the pioneering research on these signaling pathways. The company utilizes proven biotherapeutics platforms to rapidly and efficiently develop product candidates. For more information please visit www.acceleronpharma.com.

Source: Hercules Technology Growth Capital, Inc.

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