Horizon Technology Finance Corporation announced that Horizon and Silicon Valley Bank (“SVB”), have provided a $25 million venture loan facility for vTv Therapeutics Inc., a clinical-stage biopharmaceutical company committed to the discovery and development of treatments for a range of human diseases including Alzheimer’s disease and diabetes. Under the terms of the venture loan facility, the loan will be shared equally with Silicon Valley Bank. vTv will use the proceeds of the venture loan for working capital purposes.
“Horizon is excited to lead this venture debt financing for vTv,” said Gerald A. Michaud, President of Horizon. “vTv’s proprietary drug discovery platform has led to its lead clinical programs for the treatment of Alzheimer’s disease and Type 2 diabetes, in addition to other potential new treatments. Horizon’s and Silicon Valley Bank’s growth capital will support vTv’s continued research and clinical progress.”
Stephen L. Holcombe, President and CEO of vTv, stated, “With their knowledgeable teams of lending professionals and strong array of venture debt products, Horizon and SVB provided us a flexible financing solution that matched our operational needs. This loan facility enables us to keep moving forward with our strategic initiatives and provides additional financial support for our ongoing clinical trials.”
“We’re pleased to provide this debt financing to vTv with Horizon as vTv aims to develop human therapeutics to fill unmet medical needs for patients with serious diseases,” said Scott McCarty, Director of Silicon Valley Bank in Atlanta. “We look forward to working with the vTv team as they continue to advance their pipeline of drug candidates.”
Horizon Technology Finance Corporation is a leading 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.
vTv Therapeutics Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of orally administered small molecule drug candidates to fill significant unmet medical needs. vTv has a pipeline of clinical drug candidates led by programs for the treatment of Alzheimer’s disease and Type 2 diabetes as well as treatment of inflammatory disorders and the prevention of muscle weakness.
For more than 30 years, Silicon Valley Bank (“SVB”) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.