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Neuralstem Secures $8 Million In Debt Financing From Hercules
Date:3/25/2013

ROCKVILLE, Md., March 25, 2013 /PRNewswire/ -- Neuralstem, Inc. (NYSE MKT: CUR) announced today that it secured $8 million in debt financing with Hercules Technology Growth Capital (NYSE: HTGC), to fund the company's capital budget through late 2014.

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"This debt financing extends our cash runway well into late 2014 at a critical time in our clinical product development cycle. We have multiple NSI-566 cell therapy clinical trials planned this year, building on our successful ALS Phase I trial, including the upcoming phase II ALS in the U.S.; both chronic and acute spinal cord injury in the U.S. and South Korea, respectively; ALS in Mexico, and stroke in China, in addition to completing the NSI-189/Phase Ib trial in major depressive disorder," said Neuralstem's President and CEO Richard Garr . "We are pleased to have the support of leading life sciences and technology investor, Hercules."

"Neuralstem's unique stem cell platform has the potential to address a serious unmet medical need in the ALS and spinal cord injury patient populations, as well as other indications. The team's progress to date is the result of years of meticulous research and development. We are proud to be a strong financial partner," said Chad Norman , managing director at Hercules.

The funding of $8 million, which closed on March 22, 2013, is in the form of a secured note which is repayable in installments over 42 months following an interest-only period of nine months and up to 12 months upon funding of a second tranche. The note bears interest at a prime-based variable rate. In add
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SOURCE Neuralstem, Inc.
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