Medrobotics Closes On $10 Million Financing From Hercules
Company Prepares for Commercialization of the Ground-Breaking Flex™ System in Otolaryngology
FOR IMMEDIATE RELEASE
RAYNHAM, Mass., March 22, 2013—Medrobotics Corporation, an emerging medical robotics company developing the innovative Flex™ System, announced the recent closing of up to $10 Million in new debt financing from Hercules Technology III, L.P., an affiliate of Hercules Technology Growth Capital, Inc. The financing precedes Medrobotics’ anticipated commercial launches in Europe and the United States.
Medrobotics Corporation (www.Medrobotics.com) is a privately-held company headquartered in Raynham Massachusetts that is developing and commercializing the Flex™ System, a robotic-assist platform that enables surgeons to gain single-site access and visualization to difficult-to-access anatomical locations. The system provides a precise and stable platform for enhanced visualization and enables two-handed dexterity with compatible third-party instruments having tactile feedback.
About Hercules Technology Growth Capital
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") (www.HTGC.com) is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science and cleantech industries at all stages of development. Since inception (December 2003), Hercules has committed more than $3.4 billion to over 220 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.
Hercules' common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol "HTGC."
In addition, Hercules has two outstanding bond issuances of 7.00% Senior Notes due 2019—the April 2019 Notes and September 2019 Notes—which trade on the NYSE under the symbols “HTGZ” and “HTGY,” respectively.