FARMINGTON, Conn., Aug. 2, 2023
/PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ:
HRZN) ("Horizon"), 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 sustainability industries, today
announced it has provided a $15
million venture loan facility to Tallac Therapeutics, Inc.
("Tallac"), of which $5 million has
been initially funded.
Tallac is developing multiple novel immunotherapies to fight
cancer. Tallac's innovative Toll-like Receptor Agonist Antibody
Conjugate (TRAAC) platform enables systemic delivery of
differentiated TLR9 agonists to activate a specific anti-cancer
immune response for various solid tumor malignancies. Tallac is
backed by premier investors including venBio, Lightstone Ventures,
Morningside and MRL Ventures Fund. The company will use the loan
proceeds for general growth and working capital purposes.
"Tallac is advancing new immunotherapies that may make a
tremendous difference in the ongoing fight against cancer," said
Gerald A. Michaud, President of
Horizon. "Through the development of antibody conjugate-based
therapeutics, Tallac's best-in-class therapies attempt to trigger
innate and adaptive immune responses to best address the needs of
patients. We are pleased to support Tallac's continued work and its
vital mission."
"We are pleased to have Horizon's support as we continue to make
excellent progress in our TRAAC platform and programs," said
Hong I. Wan, Ph.D., president, CEO
and co-founder of Tallac Therapeutics. "We are excited to
further progress our lead program, TAC-001, in the clinic and to
advance additional agents to find difficult-to-treat cancers."
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) 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
sustainability 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.
Horizon is headquartered in Farmington,
Connecticut, with a regional office in Pleasanton, California, and investment
professionals located in Austin,
Texas, Chicago, Illinois,
Reston, Virginia and Portland, Maine. To learn more, please visit
horizontechfinance.com.
About Tallac
Tallac Therapeutics is a privately held biopharmaceutical
company harnessing the power of innate and adaptive immunity to
fight cancer. Tallac's pipeline of immunotherapy candidates are
derived from the company's novel Toll-like Receptor Agonist
Antibody Conjugate (TRAAC) platform to deliver a potent Toll-like
receptor (TLR9) agonist (T-CpG) for targeted immune activation via
systemic administration. Several TRAAC molecules are in various
stages of discovery and development. TAC-001, the company's lead
clinical candidate, is the first to enter the clinic and is
currently in an ongoing Phase 1/2 clinical trial in patients with
advanced or metastatic solid tumors. For more information, please
visit www.tallactherapeutics.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 the Company's 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.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation