Hercules And Portola Pharmaceuticals, Inc. Announce A $20 Million Financing Agreement
"Portola has achieved many significant milestones in building a pipeline of antithrombotic drug candidates," said Kathy Conte, managing director of life sciences at Hercules. "Currently, the Company has two drug candidates in clinical development -- an oral Factor Xa inhibitor in a Phase II trial for the prevention of Deep Vein Thrombosis in patients undergoing knee surgery, and a direct acting, orally available ADP receptor antagonist in multiple Phase I trials. In addition to its clinical pipeline, Portola has a robust drug discovery platform focused on the platelet and signaling pathways that mediate inflammation and thrombosis."
"This financing will bolster Portola's cash position as we move toward a number of exciting near-term milestones," stated Charles Homcy, M.D., CEO of Portola. "We look forward to advancing the development of our product candidates and are pleased to have the support of a leading investor like Hercules."
About Hercules Technology Growth Capital, Inc.:
Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty 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' strategy is to evaluate and invest in a broad range of ventures active in technology and life science industries and to offer a full suite of growth capital products up and down the capital structure to prospective clients ranging from early-stage growth to expansion stage companies. 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 of capital.
For more information, please visit www.herculestech.com, or www.htgc.com. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals, Inc. is a private biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapeutics for acute and chronic cardiovascular and vascular disease. They are conducting a Phase II clinical trial with their oral Factor Xa inhibitor for the prevention of deep vein thrombosis, and a Phase I clinical program with their direct-acting, oral and IV ADP receptor antagonist. These drug candidates could potentially advance patient care in the $14 billion anti-thrombotics market. Portola also has a robust drug discovery platform focusing on the platelet and signaling pathways that mediate thrombosis and inflammation. Portola's investors include Abingworth, Alta Partners, ATV, Frazier Healthcare Ventures, MPM Capital, Prospect Ventures and Sutter Hill Ventures. For more information on the Company, please visit www.portola.com.
Forward-Looking Statements:
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
Contact: Hercules Technology Growth Capital, Inc. Main, 650-289-3060 info@herculestech.com Sally Borg, 650-289-3066 sborg@herculestech.com or Portola Pharmaceuticals Inc. Mardi Dier, 650-246-7236
Source: Hercules Technology Growth Capital, Inc.