December 14, 2017

Horizon Tech stakes $15M in nasal-device maker

Farmington specialty financier Horizon Technology Finance Corp. says it committed to lending $15 million to a Silicon Valley startup devising devices to treat a variety of nasal ailments.

Aerin Medical Inc., of Sunnyvale, Calif., says it will use the initial $10 million funded from the loan for general working capital.

Aerin is backed by healthcare investors KCK Group and Targeted Technology. In March 2016, Aerin received $16.7 million in Series C funding in two stages from both investors.

Aerin says its medical-device prototypes use radio-frequency technology that may someday be used to treat patients' nasal problems in physicians' offices, hospitals and clinics.

Horizon specializes in financing venture-capital backed companies in life sciences, technology, healthcare information and cleantech sectors.

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