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Horizon Technology Finance Provides $15 Million Venture Loan Facility to Tallac Therapeutics
FARMINGTON, Conn., Aug. 2, 2023 /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., 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.\nTallac 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.\n\"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.\"\n\"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.\"\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 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...