Three of Hercules Technology Growth Capital’s portfolio companies have raised additional equity capital in the past month.
Three of Hercules Technology Growth Capital’s portfolio companies have raised additional equity capital in the past month.
Kamada and Elixir Pharmaceuticals, two Hercules life science companies, and an undisclosed technology company each raised additional rounds of equity capital in May.
Manuel A. Henriquez, co-founder, chairman and chief executive officer of Hercules, says: "As we have discussed during our various earnings calls, gaining access to follow-on equity growth capital from the venture industry remains a challenging situation. Financings have become increasingly difficult to secure for growing companies in the life sciences and technology industries especially given the distressed broader economy; however, the fact that three of Hercules’ portfolio companies have successfully raised additional equity capital in the past month despite the economic challenges is a testament to the strength of these companies and of our continued focus in working with high quality companies which are supported by committed venture capital firms."
Kamada, an Israel-based biopharmaceutical company, announced on 21 May that it completed an equity financing round via a Pipe (Private Investment in Public Equity), which began in February, to a group of new investors in Israel and the US. The financing raised approximately USD20m for the company, which was above the initial USD15m target raise.
Elixir Pharmaceuticals, a pharmaceutical company focused on treatments of metabolic diseases such as diabetes and obesity, announced that it completed a USD12m equity financing round on 19 May.
