Horizon Leads Venture Loan for Palatin Technologies
Horizon Technology Finance announced it led a $10 million venture loan for Palatin Technologies, a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential.
The venture loan was fully funded at closing, with Horizon funding its commitment of $5 million. Palatin will use the proceeds for working capital purposes.
“We are pleased to add Palatin to our life sciences loan portfolio,” stated Gerald A. Michaud, president of Horizon. “Palatin has a diverse pipeline of programs designed to treat individuals suffering from sexual dysfunction, obesity, diabetes and inflammatory diseases, among other ailments. This venture loan will help fund Palatin’s lead program, which is about to commence Phase III clinical trials.”