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Horizon Technology Finance Provides $35 Million Venture Loan Facility to Onkos Surgical® to Accelerate Commercialization of Novel Antibacterial Implant Technology
FARMINGTON, Conn.--(BUSINESS WIRE)-- Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":" FARMINGTON, Conn.--(BUSINESS WIRE)--\nHorizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and 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 $35 million venture loan facility to Onkos Surgical (“Onkos”), of which $30 million has been initially funded.\n\n\nOnkos intends to use the proceeds of the loan facility to accelerate manufacturing and commercialization of NanoCept™, a groundbreaking, antibacterial coating technology that is used on FDA-granted orthopaedic implants to reduce bacterial contamination at the time of implantation. Bacterial contamination of implants is a significant clinical challenge that can have devastating implications for patients and poses a substantial financial burden to the healthcare system.\n\n\n“Onkos Surgical is disrupting the orthopaedic marketplace with a suite of differentiated products, including NanoCept,” said Gerald A. Michaud, President of Horizon. “We are pleased to support the growth of Onkos as it continues to innovate novel solutions that address diverse unmet needs in a growing and important market segment.”\n\n\nOnkos Surgical is a leading innovator in the musculoskeletal space, developing technologies to address the clinical challenges associated with complex orthopaedic procedures. The company’s portfolio of products provides solutions for adult and pediatric patients who have bone loss from tumor, trauma, or revision of failed orthopaedic implants. In April 2024, NanoCept was granted the first-ever FDA De Novo authorization for an antibacterial coating technology used on orthopaedic implants, demonstrating Onkos’s innovation capabilities. NanoCept has demonstrated excellent safety and biocompatibility, with broad-spectrum efficacy (up to 99.999% kill rate in standardized in-vitro testing of bacteria commonly found in the operating room environment). Onkos is backed by top-tier investors including 1315 Capital, Canaan Partners, and SV Health Investors.\n\n\n“We are committed to transforming the standard of care across complex orthopaedic procedures, with the goals of providing benefit to patients, clinicians, a...