Navigation Links
Insmed Secures $20 Million Loan Agreement With Hercules Technology Growth Capital
Date:7/2/2012

MONMOUTH JUNCTION, N.J., July 2, 2012 /PRNewswire/ -- Insmed Incorporated (Nasdaq CM: INSM), a biopharmaceutical company focused on developing inhaled therapeutics for serious diseases of the lung, today announced that it has entered into a loan agreement with Hercules Technology Growth Capital, Inc. (NYSE: HTGC), a leader in customized debt financing for companies in life sciences and technology-related markets. Hercules will provide Insmed with access to a term loan of up to $20 million.

"We project that this loan agreement will extend our cash runway well into 2014," said Timothy Whitten, President and Chief Executive Officer of Insmed.  "Our focus remains on the timely generation of top-line data from our three prioritized ARIKACE® studies, the CLEAR-108 phase 3 study in cystic fibrosis patients who have pseudomonas lung infections, the TARGET-NTM phase 2 clinical trial for patients who have non-TB Mycobacteria lung infections and the nine month dog toxicity study, all of which are expected to be announced over the course of 2013 as previously outlined."

The first $10 million of the term loan was funded at closing, and is repayable in installments over forty-two months including an initial interest-only period of twelve months after closing.  The interest only period is extendable to December 31, 2013, contingent upon completion of certain ARIKACE-related development milestones. Pursuant to the loan agreement, Insmed issued Hercules a warrant to purchase 329,932 shares of Insmed common stock at an exercise price of $2.94 per share. The remaining $10 million of the term loan is available at Insmed's option throughout the availability period, which ends on December 31, 2012.  Further information with respect to the loan agreement with Hercules is contained in a Current Report on Form 8-K filed today by Insmed with the Securities and Exchange
'/>"/>

SOURCE Insmed Incorporated
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Insmed Incorporated Provides Corporate Update
2. PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
3. Generex Secures Commitments for $3.6M Capital Raise
4. Roka Bioscience Secures $47.5 Million in Series D Financing
5. A New Type of Dendritic Cell-Based Cancer Vaccine has Received Approval for Clinical Tests and at the Same Time Secures Substantial Financing
6. Modern Mobility Aids, Inc. Secures Financing to Close Acquisition Agreement of LumiGene Technologies
7. BIRD - Israel-US Binational Industrial R&D Foundation to Invest $7.15 Million in Eight New Projects
8. United Therapeutics Announces Additional $100 Million Share Repurchase Program
9. Butamax Early Adopters Group surpasses capacity targets with addition of Big River; Membership represents 11 production facilities and nearly 900 million gallons of ethanol capacity
10. BioMed Realty, L.P. Prices $250 Million Offering Of 4.25% Senior Unsecured Notes Due 2022
11. KAHR Medical, a Hadasit Bio-Holdings Portfolio Company, to Raise $2.6 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/19/2014)... Aug. 19, 2014 Research ... of the "Spectroscopy Equipment and Accessories ... to their offering. This ... Equipment and Accessories in US$ Thousands by ... spectrophotometers, Raman Spectrometers, NMR-EPR Spectrometers, Near Infrared ...
(Date:8/19/2014)... , Aug. 19, 2014 /PRNewswire/ - iCo Therapeutics Inc. ... today reported results of its Oral Amphotericin B ... reservoirs.  The study, conducted by ImmuneCarta®, the immune ... vitro effectiveness of Oral Amp B in ... in individuals despite intensive treatment with antiretroviral therapy. ...
(Date:8/18/2014)... Aug. 18, 2014 /PRNewswire/ - SQI Diagnostics Inc. (TSX-V: SQD), ... technologies and products for advanced microarray diagnostics, today announced ... August 22 at 2:00 pm ET.  ... provide a brief review of SQI,s recent commercialization progress ... diagnostics industry veteran recently appointed to the Board of ...
(Date:8/18/2014)... Global HIV Infection Drug Market and Pipeline Insight is ... HIV infection and the number of deaths due to AIDS ... across the globe. It has been estimated that the death ... 2013, with the rates for children being even much lower. ... rates has been the improved access to antiretroviral drugs and ...
Breaking Biology Technology:Global Spectroscopy Equipment and Accessories - Strategic Business Report 2014 2iCo Therapeutics Announces Positive Oral Amphotericin B Study Results 2iCo Therapeutics Announces Positive Oral Amphotericin B Study Results 3SQI Diagnostics Announces Investor Conference Call with Dr. Allan Pronovost 2SQI Diagnostics Announces Investor Conference Call with Dr. Allan Pronovost 3Global HIV Infection Drug Market Overview 2Global HIV Infection Drug Market Overview 3Global HIV Infection Drug Market Overview 4
... tiny man with giant ideas. Ill never forget the one and ... a conference of business executives in Cambridge, Massachusetts. There were one ... for a keynote, Drucker spoke immediately after lunch. He had to ... effortlessly for almost two hours. No Powerpoint. No props. No nonsense. ...
... The City of Madison has been awarded the top ... for Digital Government's 2005 Digital Cities Survey, an ... technology. The annual survey is conducted by the Center ... www.cityofmadison.com , allows visitors access to features such as ...
... and marketers have been hyping any time, anywhere computing for ... starting a technology company, anywhere needs to be spittin distance ... or Boston. You might get away setting up shop in ... well, there is no beyond that. , ,The bias is ...
Cached Biology Technology:Praise for the principles of Peter 2Praise for the principles of Peter 3Praise for the principles of Peter 4Does location matter anymore? 2Does location matter anymore? 3
(Date:8/19/2014)... world, leprosy and tuberculosis live side-by-side. Worldwide there ... year, with nearly all of them occurring where ... Bacille Calmette-Guerin, or BCG, provides only partial protection ... potent vaccine is needed to combat both diseases. ... against both diseases., In a study published in ...
(Date:8/19/2014)... Scientists at the Houston Methodist Research Institute have figured ... using a pipette -- a common laboratory tool that,s ... preliminary test results in a recent issue of the ... "Studying single cells and their unique functions has become ... faculty member Lidong Qin, Ph.D., the project,s principal investigator. ...
(Date:8/19/2014)... UTSA researchers has been awarded a nearly $40,000 grant ... (NCPTT), an office of the National Park Service (NPS) ... fund a one-year study of the energy efficiency and ... in hot, humid climates. , Radiant barriers are reflective ... reflect heat back, thereby reducing the amount of heat ...
Breaking Biology News(10 mins):New vaccine shows promise as stronger weapon against both tuberculosis and leprosy 2Moving single cells around -- accurately and cheaply 2UTSA researcher awarded $38K+ to evaluate energy efficiency options for historic homes 2UTSA researcher awarded $38K+ to evaluate energy efficiency options for historic homes 3
... is available in Spanish . , A ... has been released by Agricultural Research Service (ARS) scientists and ... aquatic plant native to South America that has infested freshwater ... in the southeastern United States. The plant is a real ...
... CITY, Calif. and WEST PALM BEACH, Fla. ... global provider of authentication and endpoint protection solutions and ... (EMR) and Discharge Systems for Emergency Rooms and Urgent ... biometrics from DigitalPersona into the ScriptRx System. Designed for ...
... venue for the 3rd Baltic Congress of Osteoporosis which ... to be held in English, is jointly organized by ... Osteoporosis Foundation, Lithuanian Association of Metabolic Bone Diseases and ... most disabling conditions of older adults and elderly. These ...
Cached Biology News:Scientists release biocontrol for water hyacinth 2ScriptRx and DigitalPersona Team Up to Secure Emergency Room and Urgent Care Electronic Medical Records 2ScriptRx and DigitalPersona Team Up to Secure Emergency Room and Urgent Care Electronic Medical Records 3ScriptRx and DigitalPersona Team Up to Secure Emergency Room and Urgent Care Electronic Medical Records 4
... The x2 Dual-Binary Analytical System more than ... LC and LC/MS. The fast analysis cycles ... by up to 100% in tandem mode. ... multi-dimensional mode. Using backflush or heartcut configurations, ...
... for immune complex disruption (ICD) of antigen/antibody ... a combination of low pH and heat. ... to microplate wells which are coated with ... HIV-1 p24. The immobilized monoclonal antibody captures ...
Request Info...
... EVOlyzer is Tecans new Enzyme-Linked Immunosorbent Assay ... Freedom EVOlyzer is a dedicated EVO platform ... reader, washer and incubation units operated by ... EVOlyzer is available in three sizes - ...
Biology Products: