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Horizon Technology Finance Provides $9MM Venture Loan Facility to InfoBionic

March 10, 2021, 07:44 AM
Filed Under: Medical

Horizon Technology Finance provided a $9 million venture loan facility to InfoBionic, Inc., of which $7 million has been initially funded.

InfoBionic has developed an FDA-cleared, transformative SaaS remote monitoring system to help physicians more rapidly detect, diagnose and treat cardiac arrhythmia. Along with its innovative technology similar to in-hospital telemetry-style monitoring, the MoMe® Kardia platform provides physicians with full ownership of monitoring services in an easily scalable model. Prominent investors in InfoBionic include Eagle Investment, Excel Venture and Safeguard Scientifics. InfoBionic will use the loan proceeds 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," said Gerald A. Michaud, President of Horizon. "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," said Stuart Long, Chief Executive Officer of InfoBionic. "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."

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