AcelRx Gets $40M In Credit Facility

Redwood City-based pharmaceuticals developer AcelRx Pharmaceuticals said this morning that it has received a $40M credit facility from Hercules Technology Growth Capital. Terms of the new credit facility were not announced. AcelRx is developing pharmaceuticals for the treatment of acute and breakthrough pain. The firm said the funds will go towards operating capital and contingency funding. The new credit facility is an expansion of an earlier facility established with HTGC in 2011.