FARMINGTON, Conn. and SUNNYVALE, Calif., Dec. 13, 2017 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (“Company”), 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 closed a $15 million venture loan facility to Aerin Medical, Inc. (“Aerin”). Horizon funded an initial $10 million of its commitment under the facility. Aerin will use the proceeds for general working capital purposes.
Aerin is a medical device company that has developed a unique non-invasive treatment platform to improve symptoms of nasal breathing disorders. Aerin is backed by healthcare investors KCK Group and Targeted Technology.
“Aerin represents a strong addition to our growing life sciences portfolio,” said Gerald A. Michaud, President of Horizon. “With its advanced treatment platform, Aerin will provide those suffering from nasal breathing disorders a new, non-invasive treatment that can be performed in physicians’ offices or clinics. We look forward to working with Aerin as it continues to develop and commercialize its technology.”
Fred Dinger, CEO of Aerin Medical, stated, “We are excited to have Horizon as a financial partner given its considerable experience with companies bringing new, innovative technologies to market. Utilizing Horizon’s growth capital, we will continue to develop our clinically proven treatments to relieve nasal obstruction with minimal patient discomfort and lasting results.”
About Horizon Technology Finance
Horizon Technology Finance Corporation 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 cleantech 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. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “HRZN”. To learn more, please visit www.horizontechfinance.com.
About Aerin Medical
Aerin Medical is a medical device company that is developing a new class of non-invasive treatments to improve symptoms of nasal breathing disorders in patients. The company has developed a unique treatment platform for the physician’s office, utilizing low-power radiofrequency energy to remodel nasal soft tissues and address the underlying cause of nasal congestion. Aerin has offices in Austin, Texas, Sunnyvale, California, and Singapore. To learn more, visit www.aerinmedical.com.
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 our 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.