FARMINGTON, Conn. and LEXINGTON, Mass., Oct. 4, 2018 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), 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, announced today it closed a $15 million venture loan facility to CSA Medical, Inc. ("CSA Medical"). Horizon funded an initial $6 million of its commitment under the facility.
CSA Medical is a developer of novel, patent protected cryotherapy medical devices that use extremely cold liquid nitrogen (-196° C) to ablate benign and cancerous tissues inside the aero-digestive tract. The company's truFreeze System is currently being utilized in over 100 leading hospitals and universities advancing therapy for patients affected by conditions such as Barrett's esophagus, esophageal cancer, and airway obstructions. CSA Medical is backed by investors including SV Health Investors, Ascension Ventures, and Intersouth Partners.
"As a global provider of innovative spray cryotherapy medical device solutions, CSA Medical is a welcome addition to our life science portfolio," said Gerald A. Michaud, President of Horizon. "We are thrilled to support CSA Medical and its commitment to improving patient health and quality of life."
"We appreciate Horizon's financing expertise and are pleased to partner with their experienced team as we work toward improving and extending the lives of patients with esophageal disease and COPD," said Vincent P. Owens, Executive Chairman of CSA Medical. "This important growth capital will support the commercial launch of Reo, our next generation spray cryotherapy catheter for Barrett's esophagus, and allow us to capitalize on the market potential of our Rejuvenair system, a new application of CSA Medical's liquid nitrogen spray cryotherapy technology aimed at treating COPD."
About Horizon Technology Finance
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. 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. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
About CSA Medical
CSA Medical, Inc. develops and manufactures proprietary interventional spray cryotherapy technology platforms utilizing unique properties of liquid nitrogen spray delivered by a software driven device with specialty catheters that enable delivery of spray cryogen inside the body to flash freeze and destroy unwanted tissue allowing for a rejuvenative pattern of healing. CSA manufactures and distributes this technology in the USA as the truFreeze® System which is currently used to ablate benign (e.g. Barrett's Esophagus with high grade dysplasia) and malignant lesions. CSA's RejuvenAir® System is currently under clinical investigation and is not commercially available. To learn more, please visit www.csamedical.com.
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 our 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.
SOURCE Horizon Technology Finance Corporation