Acceleron gets $8M financing from Hercules

Hercules Technology Growth Capital, a US debt and equity growth capital provider to technology and life science companies, says that it has provided $8.0 million of growth capital debt financing to Acceleron Pharma, a biopharmaceutical company developing therapeutics for metabolic and musculoskeletal diseases in areas of important and unmet medical needs.

"Acceleron Pharma, with its world-class science team and rich portfolio of assets, is developing important drugs that will make a significant difference in patients' lives," said Parag Shah, managing director, Life Sciences of Hercules. "Since their Series A raise in February 2004, Acceleron Pharma has made extraordinary progress in advancing their pipeline. We are excited to partner with them as they prepare to initiate a Phase I clinical study in Q1 of this year, with their lead product candidate targeting bone loss," he added.