Horizon Technology Finance provided a $5 million venture loan to Corinth MedTech, a medical device company that recently developed the Veloxion System, an FDA-cleared device for treating symptoms related to benign prostatic hyperplasia.
“Through its advanced proprietary technology, Corinth has provided an effective and efficient solution to correct the common affliction of BPH among men worldwide,” Gerald A. Michaud, president of Horizon Technology Finance, said. “We are excited to add our support to further facilitate Corinth’s commercialization of the Veloxion System and its overall growth initiatives.”
“We are delighted to work with the Horizon team and value their support,” Steve Duddy, president and CEO of Corinth MedTech, said. “We are eager to move forward in commercializing the Veloxion System and provide our seamless, streamlined procedure to hospitals nationwide. Horizon’s investment enables us to continue our efforts to bring our treatment to market, as well as aid us in developing additional solutions to treat other common urological conditions.”
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 sustainability industries.