Horizon Technology Finance Provides $35 Million Venture Loan Facility to Onkos Surgical® to Accelerate Commercialization of Novel Antibacterial Implant Technology
FARMINGTON, Conn.–(BUSINESS WIRE)–
Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and 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 sustainability industries, today announced it has provided a $35 million venture loan facility to Onkos Surgical (“Onkos”), of which $30 million has been initially funded.
Onkos intends to use the proceeds of the loan facility to accelerate manufacturing and commercialization of NanoCept™, a groundbreaking, antibacterial coating technology that is used on FDA-granted orthopaedic implants to reduce bacterial contamination at the time of implantation. Bacterial contamination of implants is a significant clinical challenge that can have devastating implications for patients and poses a substantial financial burden to the healthcare system.
“Onkos Surgical is disrupting the orthopaedic marketplace with a suite of differentiated products, including NanoCept,” said Gerald A. Michaud, President of Horizon. “We are pleased to support the growth of Onkos as it continues to innovate novel solutions that address diverse unmet needs in a growing and important market segment.”
Onkos Surgical is a leading innovator in the musculoskeletal space, developing technologies to address the clinical challenges associated with complex orthopaedic procedures. The company’s portfolio of products provides solutions for adult and pediatric patients who have bone loss from tumor, trauma, or revision of failed orthopaedic implants. In April 2024, NanoCept was granted the first-ever FDA De Novo authorization for an antibacterial coating technology used on orthopaedic implants, demonstrating Onkos’s innovation capabilities. NanoCept has demonstrated excellent safety and biocompatibility, with broad-spectrum efficacy (up to 99.999% kill rate in standardized in-vitro testing of bacteria commonly found in the operating room environment). Onkos is backed by top-tier investors including 1315 Capital, Canaan Partners, and SV Health Investors.
“We are committed to transforming the standard of care across complex orthopaedic procedures, with the goals of providing benefit to patients, clinicians, and health systems while creating value for our investors as we expand our footprint in a $3 billion market,” said Patrick Treacy, Onkos Surgical CEO and Co-founder. “Horizon’s support will further fuel our growth engine by accelerating the commercialization of NanoCept, a transformative and first-of-its-kind orthopaedic technology that has substantial potential to meaningfully improve patient outcomes.”
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-backed 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 $19.4 billion 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 Onkos Surgical
Onkos Surgical is a leader in innovative solutions for complex orthopaedic conditions. With our novel product portfolio, surgeons are better informed about patient-specific clinical challenges and can plan and implement more precise reconstructions. Our personalized approach supports improved patient outcomes and experiences using the latest innovations in antibacterial implant coatings, virtual surgical planning, 3D anatomic modeling and printing, implant design, and workflow optimization. More than 350 of the leading academic medical institutions in the US choose Onkos for their complex revision and tumor orthopaedic cases. For more information on Onkos Surgical and its products and services, please visit www.onkossurgical.com/nanocept.
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 the Company’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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