Monday, 17 Feb 2020

Horizon Technology Finance Provides USD 5 Million Venture Loan Facility to Meditrina

FARMINGTON, Conn: 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 cleantech industries, announced today it has provided a USD 5 million venture loan facility to Meditrina, Inc. (Meditrina), of which USD 3 million has been initially funded.

Meditrina is a pre-FDA cleared medical device company focused on developing fully disposable endoscopes and an office-based platform that can address multiple procedures for gynecologists. Meditrina's core management team and Board of Directors have collaborated on projects for two decades and achieved multiple successful exits in the gynecology space. Meditrina will use proceeds for general corporate purposes.

Meditrina is developing efficient solutions for the diagnosis and treatment of a variety of minimally invasive uterine procedures that can be performed in the comfort of a doctor's office, which will be of significant benefit and convenience to patients and physicians, said Gerald A. Michaud, President of Horizon. We are pleased to add Meditrina to our life sciences portfolio and help facilitate their next step in the FDA clearance process, and commercialization of the company's system, Aveta.

We are excited to partner with Horizon as we continue to make progress in securing FDA clearance for our Aveta system, said Csaba Truckai, Founder of Meditrina, Inc. Aveta is intended for hysteroscopic diagnostic and therapeutic uterine procedures and conveniently combines viewing, fluid management and resection capabilities all into one system. With Horizon's investment, we will be able to further our development and accelerate commercial activities of the Aveta system.

(PRN | 9 months ago)