Horizon Technology Finance Leads $15 Million Venture Loan Facility for NinePoint Medical
FARMINGTON, CT and CAMBRIDGE, MA / ACCESSWIRE / February 9, 2015 / Horizon Technology Finance Corporation ("Horizon") (HRZN), 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, today announced it has led a $15 million venture loan facility for NinePoint Medical, Inc. ("NinePoint"), an emerging leader in the development of medical devices for advanced optical imaging. NinePoint will use the proceeds for working capital purposes. Horizon funded an initial $5 million of its $7.5 million commitment under the venture loan facility.
"We are pleased to lead a $15 million venture loan to NinePoint Medical, a company that develops high-quality optical imaging medical devices focused on improving patient care," stated Gerald A. Michaud, President of Horizon. "We are excited to work with NinePoint as it continues to develop groundbreaking advances in medical imaging technology."
Dr. Christopher von Jako, President and CEO of NinePoint Medical, stated, "This attractive loan facility, led by Horizon’s experienced team of venture lending professionals, provides us with a critical source of capital necessary for NinePoint’s future growth. We welcome Horizon’s financial support as we bring the NvisionVLE(TM) Imaging System to market while developing new medical devices that we expect will revolutionize the field of advanced imaging."
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 total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechnologyfinancecorp.com.
About NinePoint Medical, Inc.
NinePoint Medical is a transformational medical device company developing innovative, real-time imaging devices focused on dramatically improving patient care. The proprietary NvisionVLE(TM) Imaging System enables physicians, for the first time, to view real-time, high-resolution, volumetric images of esophageal tissue up to 3mm deep at seven micron resolution. Headquartered in Cambridge, Massachusetts, NinePoint Medical is backed by Third Rock Ventures, Prospect Venture Partners and Corning Incorporated. For more information, please visit www.ninepointmedical.com.
Forward-Looking Statements
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.
CONTACT:
Horizon Technology Finance
Christopher M. Mathieu
Chief Financial Officer
(860) 676-8653
chris@horizontechfinance.com
Investor Relations and Media Contacts:
The IGB Group
Matt Steinberg / Leon Berman
(212) 477-8261 / (212) 477-8438
msteinberg@igbir.com / lberman@igbir.com
SOURCE: Horizon Technology Finance Corporation
