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Horizon Technology Finance Provides $10MM to Mederi Therapeutics

December 24, 2013, 07:49 AM
Filed Under: Medical

Horizon Technology Finance closed a $10 million venture loan facility to Mederi Therapeutics, Inc., a developer of minimally invasive treatments for gastroesophageal reflux disease (GERD) and bowel control disorder (BCD). Mederi will use the funds for working capital purposes. Horizon funded an initial $6 million of its $10 million commitment under the venture loan facility.

"We are pleased to provide this $10 million venture debt facility to Mederi, an innovative medical device company that provides solutions for debilitating digestive disorders, which affect millions of people worldwide," stated Gerald A. Michaud, President of Horizon. "Mederi's minimally invasive Stretta and Secca treatments improve patient quality of life and we are excited to help the company accelerate the commercialization of these treatments. Mederi Therapeutics is a compelling addition to Horizon's dynamic loan portfolio."

"Horizon's strength and reputation in the marketplace made it a clear choice for our financing partner," stated William Rutan, CEO of Mederi. "The customized growth capital provided by Horizon, with a flexible structure and terms closely aligned with Mederi's strategic goals, enhances our ability to continue to expand production and successfully treat patients worldwide, allowing them to lead more fulfilling lives. We appreciate the support of Horizon and their confidence in our future prospects."

Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries.

Mederi Therapeutics manufactures and markets innovative medical devices that deliver radiofrequency energy to treat diseases of the human digestive system.

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