Horizon Technology Finance, an affiliate of Monroe Capital and 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, provided a $35 million venture loan facility to Onkos Surgical, of which $30 million has been initially funded.
Onkos intends to use the proceeds of the loan facility to accelerate manufacturing and commercialization of NanoCept, an antibacterial coating technology that is used on FDA-granted orthopaedic implants to reduce bacterial contamination at the time of implantation.
“Onkos Surgical is disrupting the orthopaedic marketplace with a suite of differentiated products, including NanoCept,” Gerald A. Michaud, president of Horizon, said. “We are pleased to support the growth of Onkos as it continues to innovate novel solutions that address diverse unmet needs in a growing and important market segment.”
“We are committed to transforming the standard of care across complex orthopaedic procedures, with the goals of providing benefit to patients, clinicians and health systems while creating value for our investors as we expand our footprint in a $3 billion market,” Patrick Treacy, co-founder and CEO of Onkos Surgical, said. “Horizon’s support will further fuel our growth engine by accelerating the commercialization of NanoCept, a transformative and first-of-its-kind orthopaedic technology that has substantial potential to meaningfully improve patient outcomes.”
