Daily News: November 21, 2012

Horizon Closes $7.5 Million to Systech International

Horizon Technology Finance Corporation announced that it has closed a $7.5 million venture loan to Systech International, Inc., a global provider in pharma serialization solutions.

“Systech is a strong addition to Horizon’s quality investment portfolio,” stated Gerald A. Michaud, president of Horizon. “We are pleased to provide this venture loan to Systech, a company poised for growth with its comprehensive suite of software products and services for manufacturers in the global pharmaceutical and related industries aimed at meeting stringent regulatory requirements and improving operating efficiencies.”

Robert DeJean, president and CEO of Systech, stated, “We are experiencing significant growth and required additional capital to finance our continued expansion. The Horizon team carefully considered our needs and structured a financing solution that will support our working capital needs to meet the strategic goals of our company. We appreciate Horizon’s confidence in Systech and welcome them as a value-added financial partner.”

Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries.