Friday, July 1, 2011

AcelRX Gains $20M In Loan Funding

Redwood City-based AcelRX Pharmaceuticals said Thursday that it has received $20M in a loan financing agreement, from Hercules Technology Growth Capital. The financing includes $10M in a first tranche, with an option on another $10M tranche before December 16th. The firm said the funding will go towards repaying an existing $2.8M in loan from Pinnacle Ventures, as well as for funding development activities. AcelRx is publicly held.