WATERTOWN, Mass.--(BUSINESS WIRE)--Panacos Pharmaceuticals, Inc. (NASDAQ:PANC), a biotechnology company dedicated to developing the next generation of antiviral therapeutic products, announced that it has closed a $20 million term loan agreement today with Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC). Under the terms of the loan agreement, Hercules has advanced $10 million to the Company immediately upon closing. The Company plans to draw the remaining $10 million prior to September 30, 2007.
