|[February 27, 2014]
ADMA Biologics Secures up to $15 Million Loan Commitment from Hercules Technology Growth Capital
RAMSEY, N.J. --(Business Wire)--
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
"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 wo 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.
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