Medrobotics Closes On $10 Million Financing From Hercules

Company Prepares for Commercialization of the Ground-Breaking Flex™ System in Otolaryngology

 

FOR IMMEDIATE RELEASE
Contact: Diane Wilson (978) 656-1258

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.

About Medrobotics

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.

 

Surgeons of the University Hospital Essen Complete World’s First Robotic-Assisted Cancer Surgery with Medrobotics' Flex® System More

University Hospital Dinant Godinne-UCL Namur Completes World’s First Robotic-Assisted Surgery with Medrobotics‘ Flex® System More

Medrobotics Closes $26 Million Series E Financing More

Medrobotics Corporation Receives CE Mark for the Flex® System, Mar. 18, 2014, More

Medrobotics Appoints Russell M. Singleton, Ph.D., as Senior Vice-President R&D, Mar. 17, 2014 More

Medrobotics Appoints Thomas F. Patzelt Vice-President Marketing, Jan. 2, 2014 More

Medrobotics Gains ISO 13485: 2003 Certification for the Design, Manufacture, Service and Distribution of the Flex™ System, Nov. 3, 2013 More

Medrobotics Closes On $10 Million Financing From Hercules, March 22, 2013 More

Medrobotics Appoints Richard S. Walsh Vice-President Global Sales, Feb. 4, 2013 More

Medrobotics Completes $33.6 Million Series D Financing: Company Prepares for Commercialization of the Ground-Breaking Flex™ System in Otolaryngology, Dec. 20, 2012
More

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