Horizon Technology Finance led a $10 million loan facility for MacuLogix. Horizon funded an initial $3.75 million of its commitment under the term loan facility and Silicon Valley Bank funded $1.25 million. SVB also provided a $3 million senior revolving line of credit to MacuLogix.
MacuLogix, a medical device company in the optometry and ophthalmology industry, is the maker of the AdaptDx automated dark adaptometer, a device that allows eye care professionals to measure retinal function to accurately diagnose age-related macular degeneration, the leading cause of irreversible blindness in adults, three years before it is clinically evident.
MacuLogix is backed by investors, including Roche Ventures, Fisk Ventures and Life Sciences Greenhouse of Central Pennsylvania. MacuLogix will use the proceeds for general working capital purposes.
“MacuLogix is a pioneer in detecting AMD, a condition that affects a growing segment of the population, and we are pleased to provide the company with this venture debt financing,” said Gerald A. Michaud, president of Horizon.
Horizon Technology Finance is a 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.