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NeurogesX, Inc. Secures $20 Million Debt Facility
Date:8/8/2011

SAN MATEO, Calif., Aug. 8, 2011 /PRNewswire/ -- NeurogesX, Inc. (Nasdaq: NGSX), a biopharmaceutical company focused on developing novel pain management therapies, today announced that it has entered into a $20 million loan agreement with Hercules Technology Growth Capital, Inc. (Nasdaq: HTGC).  The loan agreement includes both a $5 million accounts receivable line of credit and a $15 million term loan.

Proceeds are expected to be used to further support commercialization activities for Qutenza® (capsaicin) 8% patch, the clinical development of the Company's lead product candidate, NGX-1998, a non-patch topically applied liquid formulation of high-concentration capsaicin, as well as general corporate purposes.

Stephen Ghiglieri, Executive Vice President, COO and CFO, commented, "This debt facility is a key ingredient in our overall strategy to provide sufficient capital to advance the commercial efforts with Qutenza and the development of our NGX-1998 topical liquid formulation product candidate.  We believe that this facility, together with the $20 million equity private placement completed on July 26, 2011, gives us the necessary cash to take us into 2013 and enables us to pursue strategic activities that could further support the advancement of Qutenza and NGX-1998."

About NeurogesX, Inc.NeurogesX, Inc. (Nasdaq: NGSX) is a San Francisco Bay Area-based biopharmaceutical company focused on developing and commercializing novel pain management therapies. NeurogesX was founded on the concept that use of prescription-strength capsaicin could help manage the pain associated with neuropathic pain conditions. Since its inception, NeurogesX has leveraged its passion to help people with pain to efficiently develop this concept, resulting in the commercial launch of Qutenza
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SOURCE NeurogesX, Inc.
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