ADMA Biologics, Inc. (OTCQB:ADMA), a late-stage
biopharmaceutical company that develops, manufactures, and intends
to market specialty plasma-based biologics for the treatment and
prevention of certain infectious diseases, today announced it has
secured a loan commitment for up to $15 million from Hercules
Technology Growth Capital, Inc. (NYSE:HTGC), a leading specialty
finance company focused on providing senior secured loans to
venture capital-backed companies in technology-related markets.
“This additional funding has strengthened our cash position and
extends our runway beyond our expected upcoming clinical and
regulatory milestones. The loan further provides for an attractive,
minimally dilutive financing arrangement from a partner who
understands the intimate nuances of our business,” commented Brian
Lenz, Vice President and Chief Financial Officer.
“The capital committed from this loan facility will enhance our
cash position and allow the company greater flexibility as we
progress with our Phase III trial and plasma collection center
expansion plans. Based upon our current development program for
RI-002, data anticipated in the fourth quarter of 2014, the
expected filing of a Biologics License Application (BLA) in 2015
and the potential for RI-002’s approval in 2016, this additional
capital will help to fund initial commercialization efforts during
this period. We are pleased to further expand upon our long-term
relationship with Hercules,” stated Adam Grossman, President and
Chief Executive Officer of ADMA Biologics, Inc.
For additional information with respect to the loan agreement
with Hercules, please refer to the company’s Current Report on Form
8-K which has been filed with the United States Securities and
Exchange Commission or by visiting the company’s
website www.admabio.com.
About ADMA Biologics, Inc.
ADMA is a late-stage biopharmaceutical company that develops,
manufactures, and intends to market specialty plasma-based
biologics for the treatment and prevention of certain infectious
diseases. ADMA’s mission is to develop and commercialize
plasma-derived, human immune globulins targeted to niche patient
populations for the treatment and prevention of certain infectious
diseases. The target patient populations include immune-compromised
individuals who suffer from an underlying immune deficiency disease
or who may be immune-compromised for medical reasons. ADMA also
operates ADMA Bio Centers, an FDA-licensed and GHA-certified source
plasma collection facility located in Norcross, Georgia, which
provides ADMA with a portion of its blood plasma for the
manufacture of RI-002. For more information please visit the
Company’s website at www.admabiologics.com.
About ADMA’s lead product candidate RI-002
ADMA’s lead product candidate, RI-002 is a specialty
plasma-derived, polyclonal, Intravenous Immune Globulin, or IGIV,
derived from human plasma containing naturally occurring polyclonal
antibodies (e.g. streptococcus pneumoniae, H. influenza type B,
CMV, measles, tetanus etc.) as well as high levels of antibodies
targeted to respiratory syncytial virus, or RSV. ADMA is pursuing
an indication for the use of this specialty IGIV product for
treatment of patients diagnosed with primary immune deficiency
diseases, or PIDD. Polyclonal antibodies are the primary component
of IGIV products. Polyclonal antibodies are proteins produced by
B-cells that are used by the body’s immune system to neutralize
microbes such as bacteria and viruses. The polyclonal antibodies
that are present in RI-002 are expected to prevent infections in
immune-compromised patients. The product is currently being
evaluated in a Phase III trial in the United States.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE:HTGC) is a
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 energy and renewable technology industries, at
all stages of development. Since inception (December 2003),
Hercules has committed more than $4.0 billion to over 260 companies
and is a lender of choice for entrepreneurs and venture capital
firms seeking growth capital financing. For more information please
visit www.htgc.com, or call 650-289-3060.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains “forward looking statements.”
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future
results, performance or achievements, and may contain the words
“estimate,” “project,” “intend,” “forecast,” “target,”
“anticipate,” “plan,” “planning,” “expect,” “believe,” “will,”
“will likely,” “should,” “could,” “would,” “may” or, in each case,
their negative, or words or expressions of similar meaning. These
forward-looking statements include, but are not limited to,
statements concerning the timing, progress and results of the
clinical development, the availability of preliminary data, the
reporting of data, regulatory processes, potential clinical trial
initiations, potential investigational new product applications,
biologics license applications, expansion plans, the achievement of
clinical and regulatory milestones and commercialization efforts of
the Company's product candidate(s). Forward-looking statements are
subject to many risks and uncertainties that could cause our actual
results to differ materially from any future results expressed or
implied by the forward-looking statements, including, but not
limited to, the risks listed under the heading “Risk Factors” in
our Annual Report on Form 10-K for the year ended December 31,
2012, as filed with the U.S. Securities and Exchange Commission on
March 6, 2013 and our other filings with the U.S. Securities and
Exchange Commission including, among other things, risks as to
whether any preliminary data will, if and when available, be
encouraging, positive or will otherwise lead to an effective or
approved product, whether we will be able to demonstrate efficacy
or gain necessary approvals to market and commercialize any
product, whether we will meet any of our clinical or regulatory
milestones and whether we will meet any timing targets expressed by
the Company. Therefore, current and prospective security holders
are cautioned that there also can be no assurance that the
forward-looking statements included in this press release will
prove to be accurate. In light of the significant uncertainties
inherent to the forward-looking statements included herein, the
inclusion of such information should not be regarded as a
representation or warranty by ADMA or any other person that the
objectives and plans of ADMA will be achieved in any specified time
frame, if at all. Except to the extent required by applicable laws
or rules, ADMA does not undertake any obligation to update any
forward looking statements or to announce revisions to any of the
forward-looking statements.
ADMA Biologics, Inc.Brian Lenz, CPA, 201-478-5552Vice President
& Chief Financial
Officerinfo@admabio.comwww.admabiologics.comorHercules Technology
Growth Capital, Inc.Main, 650-289-3060 HT-HNinfo@htgc.com
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