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Horizon Technology Finance Provides $5MM Venture Loan to Corinth MedTech

December 30, 2020, 07:08 AM
Filed Under: Medical

Horizon Technology Finance Corporation has provided a $5 million venture loan to Corinth MedTech, Inc.

Corinth is a medical device company which has developed the Veloxion™ System, an FDA-cleared device for treating symptoms related to Benign Prostatic Hyperplasia (BPH), more commonly known as TURP for enlarged prostate. The Veloxion™ System includes the world's first single-use resectoscope with integrated camera, a light source and a complete fluid management system for TURP and TURBT (removal of bladder tumors) procedures, allowing physicians to perform faster, safer and more cost-effective tissue resections for their patients. Corinth will use the loan proceeds for general working capital purposes.

"Through its advanced proprietary technology, Corinth has provided an effective and efficient solution to correct the common affliction of BPH among men worldwide," said Gerald A. Michaud, President of Horizon. "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," said Steve Duddy, Corinth's President and Chief Executive Officer. "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."

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