Hercules Provides $250,000 Equity Capital to Crux Biomedical, Inc., a Developer of an Inferior Vena Cava (IVC) Filter, in Conjunction with Additional Equity from Thomas Fogarty and Alloy Ventures

PALO ALTO, Calif.--(BUSINESS WIRE)--

Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that on September 14, 2007, it provided a $250,000 direct equity investment to Crux Biomedical, Inc. Crux, a privately held medical device firm, is developing an Inferior Vena Cava (IVC) filter for the treatment and prevention of pulmonary embolism (PE).

"According to Crux Biomedical, approximately 600,000 patients develop a PE every year," said Brandt Roberts of Hercules. "With no clear leader in the IVC filter market, we recognized a significant business opportunity in supporting Crux's mission to develop a superior device to treat this prevalent condition. According to Medtech Ventures, the 2006 worldwide market for IVC filters was estimated to be $260 million and growing by eight to ten percent annually. We believe Crux is well positioned to establish a leading presence in this burgeoning market."

Roberts also emphasized the international recognition and established credibility in the medical field of Dr. Thomas Fogarty, co-founder of Crux Biomedical. Fogarty founded Crux in August 2004 in order to address unmet clinical needs of current IVC filters. Filters are an increasingly common therapy to prevent often fatal blood clots, frequently arising from the legs as a result of deep vein thrombosis (DVT).

Currently, approved IVC filters are associated with a variety of shortcomings including difficulties in placement, inability to retrieve, migration, device fracture and penetration through the wall of the vena cava. As a result of these challenges, Fogarty's team developed the Crux IVC filter. Its unique design promises to alleviate retrieval and placement problems, while providing filtering across the entire lumen of the vein.

Hercules' equity investment in Crux is accompanied by additional equity from Thomas Fogarty and Alloy Ventures.

"The equity from Hercules will support our pivotal U.S. clinical trials and pioneering R&D efforts," said Mel Schatz, CEO of Crux. "We expect to achieve a leadership position in this growing field by providing the easiest, most versatile IVC filter."

Crux has successfully completed initial human implants outside the U.S. in 2007 and has received approval to initiate its U.S. clinical trial.

About Hercules Technology Growth Capital, Inc.:

Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.

Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.

About Crux Biomedical, Inc.:

Crux Biomedical, headquartered in Portola Valley, CA. was founded in 2004. The private funded company is focused on developing improved treatments for the prevention of pulmonary embolisms. For more information, please visit www.cruxbiomedical.com.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.

Source: Hercules Technology Growth Capital, Inc.

Released October 4, 2007