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Horizon Technology Finance Leads $15 Million Venture Loan Facility to Spineology
FARMINGTON, Conn., Sept. 20, 2021 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., Sept. 20, 2021 /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, announced today it led a $15 million venture loan facility to Spineology, Inc. (\"Spineology\"), of which Horizon funded $5 million of the initial $10 million draw and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $5 million.\nSpineology develops and sells a complementary suite of anatomy-conserving technology solutions for use in lumbar spinal fusion procedures. The Company's proprietary OptiMesh® technology effectively provides structural support for fusion while limiting patient trauma during surgery, leading to significantly improved patient outcomes. Spineology has received funding from prominent healthcare growth equity investor River Cities Capital, and will use the loan proceeds for general working capital purposes.\n\"Spineology's proprietary technology and unique, minimally invasive approach to lumbar spinal fusion procedures has resulted in robust clinical adoption,\" said Gerald A. Michaud, President of Horizon. \"We are excited to support Spineology's growth as it continues to drive commercialization of its two lead products, OptiMesh and Duo™.\" \n\"We are excited by Horizon's support of Spineology and our OptiMesh technology which can meaningfully drive enhanced recoveries and excellent outcomes for our patients,\" said John J. Booth, Chief Executive Officer of Spineology. \"As the spine market becomes increasingly crowded and commoditized, we believe that our clearly differentiated minimally invasive spine technologies will continue to capture market share as we develop additional offerings and grow our company.\"\nAbout Horizon Technology Finance\nHorizon 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 gene...