FARMINGTON, Conn. and
MAPLE GROVE, Minn., Jan. 2, 2018 /PRNewswire/ -- Horizon
Technology Finance Corporation (NASDAQ: HRZN) ("Horizon")
("Company"), a leading specialty finance company that provides
capital in the form of secured loans to venture capital backed
companies in the technology, life science, healthcare information
and services, and cleantech industries, announced
today that it closed a $12
million venture loan to Conventus Orthopaedics, Inc.
("Conventus") on December 22, 2017.
Conventus will use the proceeds for general working capital
purposes.
Conventus is a medical device company developing a proprietary
nitinol "Cage" technology for treatment of periarticular fractures.
The Conventus Cage™ fracture repair solution is designed to offer
patients and surgeons an improvement over traditional techniques by
providing intramedullary support. Backed by top investors including
Deerfield Management and SightLine Partners, the Cage technology
has been well received by orthopedic surgeons and their
patients.
"We are very pleased to provide this venture loan to Conventus,"
said Gerald A. Michaud, President of
Horizon. "The company's 3-dimensional fracture management system
enables surgeons to provide robust, stable surgical repair and
return patients to their normal lives. With this financing,
Conventus will continue to commercialize its proximal humerus
fracture fixation therapy while developing further indications for
this technology."
Matthew Jewett, CEO and President
of Conventus, stated, "We are excited to have the support of a
first class healthcare investor like Horizon as we accelerate the
expansion of the Conventus Cage technology with the upcoming launch
of our next generation proximal humerus (PH) system. This growth
capital will enable us to expand our commercial efforts and bring
our technology to more surgeons and ultimately help more
patients."
About Horizon Technology Finance
Horizon
Technology Finance Corporation is a leading specialty finance
company that provides capital in the form of secured loans to
venture capital backed companies in the technology, life science,
healthcare information and services, and cleantech industries. The
investment objective of Horizon is to maximize its investment
portfolio's return by generating current income from the debt
investments it makes and capital appreciation from the warrants it
receives when making such debt investments. Headquartered in
Farmington, Connecticut, Horizon
has regional offices in Pleasanton,
California, Reston,
Virginia and Boston,
Massachusetts. Horizon's common stock trades on the NASDAQ
Global Select Market under the ticker symbol "HRZN". To learn more,
please visit www.horizontechfinance.com.
About Conventus Orthopaedics
Conventus
Orthopaedics, Inc. is an early-stage company focused on delivering
a new standard of care for orthopedic fracture treatment, including
complex and fragility fractures where there is a significant unmet
need and a lack of treatment options. Their proprietary Cage™
technology aims to improve patient outcomes, enhance the surgeon
experience, and deliver economic value to stakeholders within this
market segment. To learn more, please visit
www.conventusortho.com.
Forward-Looking Statements
Statements
included herein may constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements other than statements of historical facts included
in this press release may constitute forward-looking statements and
are not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in our filings with the Securities and Exchange Commission.
Horizon undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
Contact:
|
|
Horizon Technology
Finance
|
Investor Relations
and Media Contacts:
|
Daniel R.
Trolio
|
The IGB
Group
|
Chief Financial
Officer
|
Scott Eckstein / Leon
Berman
|
(860)
674-9977
|
(212) 477-8261 /
(212) 477-8438
|
dtrolio@horizontechfinance.com
|
seckstein@igbir.com /
lberman@igbir.com
|
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SOURCE Horizon Technology Finance Corporation