Exhibit 99.1

        POWER MEDICAL INTERVENTIONS COMPLETES FIRST CLOSE OF SERIES C
                           FINANCING OF $14.5 MILLION

    PALO ALTO, Calif., Oct. 17 /PRNewswire-FirstCall/ -- Hercules Technology
Growth Capital, Inc. (Nasdaq: HTGC), a leading debt and equity growth capital
provider to technology and life science companies, today announced that Power
Medical Interventions completed its first close of its Series C financing of
$14.5 million on Oct. 5, 2005.  Hercules had previously invested $4.0 million
in the privately held medical device company on May 13, 2005.  Proceeds from
the financing will be used to help Power Medical design, develop and market
new computerized and reusable devices and methods for delivering staples
during surgery.

    (Logo:  http://www.newscom.com/cgi-bin/prnh/20050609/SFTH149LOGO )

    "By using advanced computer and robotics technology, Power Medical has
created tools with numerous benefits for physicians, patients, hospitals and
insurance providers. The company's devices make it possible to improve patient
outcomes while reducing healthcare costs," said Parag Shah, managing director of
Hercules' Life Sciences Group. "We are happy to be able to assist the company as
it develops and markets these revolutionary medical solutions."

    Developments in materials, advancements in microprocessor miniaturization
and the ability to deliver more energy and power through creative engineering
have enabled PMI to continue to revolutionize the design of automated wound-
closure products, such as its SurgASSIST(TM) System, and to lead the industry
into a new era of Digital and Wireless Medical Technology(TM).

    About Hercules Technology Growth Capital:
    Founded in December 2003, 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. The
company primarily finances privately held companies backed by leading venture
capital and private equity firms and also may finance certain publicly traded
companies. Hercules focuses its investments in companies active in technology
and technology related industries such as computer software and hardware,
networking systems, semiconductors, semiconductor capital equipment, information
technology infrastructure, Internet consumer and business services,
telecommunications, and life sciences. The company's investments are originated
through its principal office located in the Silicon Valley, as well as
additional offices in the Boston, Boulder and Chicago areas. Providing capital
to privately held companies backed by leading venture capital and private equity
firms involves a certain degree of credit risk and may result in potential
losses.

    For more information, please visit http://www.herculestech.com. Companies
interested in learning more about financing opportunities should contact
info@herculestech.com or call 650-289-3060.

    About Power Medical Interventions:
    Power Medical Interventions (PMI) is a medical device company headquartered
in Langhorne, Pennsylvania. Founded in 2000, PMI was formed for the purpose of
designing, developing, and marketing new computerized and reusable devices and
methods for delivering staples during surgery-a concept that has now taken form
in the revolutionary SurgASSIST System, the world's first computer-mediated
transection and anastomosis device.
http://www.algorx.com/news/newsrelease/newsrelease.htm

CONTACT:  Hercules Technology Growth Capital, Inc., +1-650-289-3060,
info@herculestech.com, or Deborah Stapleton, 650-470-0200, deb@stapleton.com/
Photo:  http://www.newscom.com/cgi-bin/prnh/20050609/SFTH149LOGO