Horizon Technology Finance provided a $9 million venture loan facility to InfoBionic, of which $7 million has been initially funded.
InfoBionic developed an FDA-cleared, SaaS remote monitoring system to help physicians detect, diagnose and treat cardiac arrhythmia. The company’s MoMe Kardia platform provides physicians with full ownership of monitoring services in a scalable model. Eagle Investment, Excel Venture and Safeguard Scientifics are among some of InfoBionic’s prominent investors. InfoBionic will use the proceeds of the loan from Horizon Technology Finance for general growth and working capital purposes.
“InfoBionic has created an ergonomic, easy-to-use, wearable cardiac monitor that continually streams data to ensure a physician can rapidly and properly treat potentially serious cardiac arrhythmias,” Gerald A. Michaud, president of Horizon Technology Finance, said. “Along with their innovative cardiac device, InfoBionic’s advanced software platform empowers the physician to identify and address patient compliance and receive full monitoring data, elevating the standard of care. We are pleased to support InfoBionic as they seek to expand their share of the cardiac monitoring market.”
“We appreciate Horizon’s confidence in what we are building at InfoBionic and how our MoMe Kardia platform provides physicians with faster and more effective diagnoses of cardiac arrhythmias,” Stuart Long, CEO of InfoBionic, said. “Our wearable remote cardiac monitor removes the complexity typically associated with the monitoring process and enables a direct physician and patient relationship. Horizon’s investment will help us to continue innovating and enhancing the productivity of our platform, which will further aid physicians and enable us to grow our business.”
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.
