Hercules Technology Growth Capital Commits $5.5 Million to Labcyte, Inc., Developer of Acoustic Droplet Ejection Technology

PALO ALTO, Calif.--(Business Wire)--
Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the leading specialty
finance company providing venture debt and equity to venture capital and private
equity-backed technology and life science companies at all stages of
development, today announced that it has committed to provide Labcyte, Inc.
(www.labcyte.com) $5.5 million in credit facilities.

"Hercules believes the Life Science research and development market presents a
huge opportunity for Labcyte. In 2008, the pharmaceutical and biotechnology
industries spent approximately $65.2 billion on R&D activities," said Kathy
Conte, managing director of Life Sciences at Hercules. "The unique Labcyte
technology, as embodied in their Echo® liquid handlers, coupled with their solid
business plan and strong management team, makes the company a welcome addition
to our portfolio of companies that are positioned for success."

"Labcyte acoustic liquid handling is the game-changing technology adopted by
pharmaceutical companies around the world because it significantly improves the
possibility of successful drug discovery while dramatically reducing expenses.
Our approach has rapidly gained acceptance, allowing us to enjoy significant
revenue growth," said Mark D. Fischer-Colbrie, president and chief executive
officer of Labcyte. "This technology is being implemented in a wide variety of
applications, including those in disease screening, genomics, diagnostics,
proteomics, and mass spectroscopy imaging."

About Hercules Technology Growth Capital, Inc.:

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. Founded in December 2003, the company
primarily finances privately held companies backed by leading venture capital
and private equity firms. Hercules invests in a broad range of ventures active
in technology and life science industries and offers a full suite of growth
capital products at all levels of the capital structure. The company is
headquartered in Palo Alto, Calif. and has additional offices in the Boston,
Boulder and Chicago areas. Providing capital to publicly-traded or
privately-held companies backed by leading venture capital and private equity
firms involves a high degree of credit risk and may result in potential losses
of capital. For more information, please visit www.htgc.com.

Companies interested in learning more about financing opportunities should
contact info@htgc.com, or call 650.289.3060.

About Labcyte:

Labcyte Inc. uses sound to move liquids. This green technology provides
significantly better analytical results while saving money. The `touchless`
technology provides dramatically better answers by eliminating pipette tips and
the adsorption of compounds during transfer, while saving hundreds of thousands
of dollars in decreased consumables. Accuracy is maintained from first drop
through last for a wide variety of fluids, including many considered intractable
by other techniques. The technology is coupled with our Deerac instruments to
make Labcyte a leader in liquid handling. Together with the Deerac systems, the
award-winning Echo liquid handlers are used in all of the top 10 pharmaceutical
companies, as well as in leading academic and research institutions worldwide.
Labcyte technologies have broad applications including the fields of compound
management, genomics, proteomics, particle manufacturing, encapsulation, imaging
mass spectrometry, and live-cell transfer. Labcyte is headquartered in
Sunnyvale, California with offices in Dublin, Ireland and has 39 U.S., 7
European and two Japanese patents and additional U.S. and international filings.
For more information, visit www.labcyte.com.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are
forward-looking statements. These forward-looking statements are not guarantees
of future performance and are subject to uncertainties and other factors that
could cause actual results to differ materially from those expressed in the
forward-looking statements including, without limitation, the risks,
uncertainties, including the uncertainties surrounding the current market
turbulence, and other factors we identify from time to time in our filings with
the Securities and Exchange Commission. Although we believe that the assumptions
on which these forward-looking statements are reasonable, any of those
assumptions could prove to be inaccurate and, as a result, the forward-looking
statements based on those assumptions also could be incorrect. You should not
place undue reliance on these forward-looking statements. The forward-looking
statements contained in this release are made as of the date hereof, and
Hercules assumes no obligation to update the forward-looking statements for
subsequent events.

Hercules Technology Growth Capital, Inc.
Main, 650-289-3060 HT-HN
info@htgc.com
or
Sally Borg, 650-289-3066
sborg@htgc.com

Copyright Business Wire 2009