Hercules Technology Growth Capital, Inc., a specialty finance company providing debt and equity growth capital to venture capital and private equity backed technology and life science companies, recently announced that it raised approximately $32.5 Million of gross proceeds in a public offering of 2.5 million shares of common stock.

The net proceeds to Hercules Technology Growth Capital from the sale of the shares in the offering are intended to reduce credit borrowings, originate investments and for general corporate purposes.

A.G. Edwards & Sons, Inc. acted as the sole book-running manager of this offering.

The company further announced that it provided $15 million of debt financing to Elixir Pharmaceuticals. Elixir Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing drugs to treat and prevent metabolic disease, prevent age-related diseases, and extend the quality and length of human life. MPM Capital, Oxford Bioscience Partners, ARCH Ventures Partners, CDIB Ventures, JAFCO, YFY Biotech Management Company and other leading industry investors back Elixir.

“Elixir Pharmaceuticals has significant milestones that they expect to achieve over the coming months,” said Parag Shah, senior managing director of Life Sciences at Hercules. “They are making major progress with mitiglinide, a type 2 diabetes drug licensed from Japan and in particular their internally developed ghrelin antagonist program, which is a very exciting target currently being studied for the treatment of metabolic diseases.”

“These funds provide us with the opportunity to advance our leadership position in the innovation and development of next generation therapeutics for the treatment of major metabolic disorders, as well as to treat and prevent a broader range of age-related diseases,” stated William K. Heiden, CEO of Elixir Pharmaceuticals. “We are pleased to have the support of a leading investor like Hercules.”

For more information, please visit www.herculestech.com.