FARMINGTON, Conn.–(BUSINESS WIRE)–Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”) (the “Company”), an affiliate of Monroe Capital, today announced it has provided a $15 million senior credit facility to Bioness Medical, Inc. (“Bioness”), with an initial $10 million funded at closing, and up to $5 million available to support Bioness’s continued growth.
Bioness develops and commercializes FDA-approved neurorehabilitation technologies designed to improve mobility and function for individuals recovering from stroke, spinal cord injury, and other neurological conditions. Backed by Accelmed Partners, Bioness has established a leading position in the neurorehabilitation market through a portfolio of clinically validated products used across hospital, outpatient and home-based care settings.
“Providing flexible growth capital to innovative companies with proven business models and strong market positions is a core focus of Horizon’s venture lending platform,” said Paul Seitz, Chief Investment Officer of Horizon. “Our team has extensive experience partnering with healthcare and life sciences companies and delivering tailored financing solutions that help management teams execute on their growth objectives. Bioness is representative of the high-quality businesses we seek to support, and we are pleased to add another leading healthcare technology company to Horizon’s portfolio. We look forward to continuing to deploy capital in support of innovative companies across our target markets.”
“Horizon’s deep understanding of the life sciences sector and ability to structure a financing solution tailored to our needs made them an attractive partner,” said Todd Cushman, Co-Founder and Chief Executive Officer of Bioness. “This facility provides additional capital and flexibility as we continue investing in innovation, expanding our product portfolio and serving patients and healthcare providers around the world.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN), externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, is a leading specialty finance company that provides capital in the form of secured loans to venture capital and private equity-backed companies and publicly traded companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located throughout the U.S. Monroe Capital is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, opportunistic, structured credit, real estate and equity. To learn more, please visit horizontechfinance.com.
About Bioness Medical
Bioness Medical is a leading provider of advanced rehabilitation technologies designed to restore mobility, function, and independence. Its portfolio spans functional electrical stimulation, robotic gait training, and neuromodulation, supporting clinicians and healthcare systems worldwide with evidence-based solutions. Learn more at bionessmedical.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Horizon’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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Investor Relations:
ICR
Garrett Edson
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(860) 284-6450
Media Relations:
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Chris Gillick
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(646) 677-1819
