ATEL Ventures Portfolio Company, Adenosine Therapeutics to be Acquired by Clinical Data, Inc.

SAN FRANCISCO--(BUSINESS WIRE)--ATEL Ventures, a leading provider of secured financing to emerging growth companies, is pleased to announce that Clinical Data, Inc. has entered into an agreement to acquire Adenosine Therapeutics, an ATEL portfolio company. Clinical Data (Nasdaq:CLDA) paid $11 million in cash, and entered into a $22 million, five-year promissory note and a separate $3.2 million, 32-month promissory note to acquire the privately held Adenosine. Adenosine also stands to receive up to $30 million more in cash upon the achievement of certain regulatory and commercial milestones.

“We congratulate Adenosine on its acquisition and the future opportunities it will bring to the company.”

Adenosine Therapeutics has been leading the way in the discovery and development of adenosine receptor selective drug candidates since 1999. ATEL Venture’s 4.5 million debt and equity financing package that was provided in 2007 helped support the further development of Adenosine’s portfolio of products that aim to improve the lives of patients suffering from a wide range of diseases.

“Adenosine’s outstanding track record in pharmaceutical development and research collaboration made it a compelling investment choice,” said Steve Rea, Executive Vice President at ATEL Ventures, a division of ATEL Capital Group. "We congratulate Adenosine on its acquisition and the future opportunities it will bring to the company."

About ATEL Ventures

Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely-held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. ATEL Capital formed ATEL Ventures, Inc. to provide working capital and equipment financing term loans to emerging growth companies in information technology, life sciences, specialty retail and alternative energy. For information about ATEL Ventures, contact Steven Rea, executive vice president, or visit their website at www.atel.com/ventures.

About Adenosine Therapeutics

Adenosine Therapeutics is a world leader in the development of novel pharmaceutical products that target adenosine receptor subtypes. The company’s most advanced product is Apadenoson, a highly selective A_2A agonist, which is in Phase III clinical development for use as a stress agent during cardiac imaging. The Company is also developing drugs for the treatment of asthma, diabetes, Parkinson’s disease, cancer, ophthalmic disease and inflammatory indications such as sepsis, heart attack, ischemia-reperfusion injury, sickle cell crisis, vascular injury, arthritis, spinal cord injury, COPD, and inflammatory bowel disease. For more information on Adenosine Therapeutics, please visit our web site at www.adenrx.com.

About Clinical Data, Inc.

Clinical Data is a global biotechnology company unlocking the potential of molecular discovery, From Targeted Science to Better Healthcare^TM. Its PGxHealth® division focuses on proprietary biomarker and pharmacogenetic test development as well as targeted therapeutics to help predict drug safety and efficacy, thereby reducing health care costs and improving clinical outcomes. Its Cogenics® division provides genomics services to both research and regulated environments. Through these divisions, Clinical Data is leveraging advances in molecular discovery to provide tangible benefits for patients, doctors, scientists and health plans worldwide. Visit the company's website at www.clda.com for more information.