Aerin Medical, Inc., a medical device company, closed a $15m venture loan facility.
Horizon Technology Finance Corporation (NASDAQ: HRZN), a 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, provided the facility.
The company will use the proceeds for general working capital purposes.
Led by Fred Dinger, CEO, Aerin is a medical device company that has developed a non-invasive treatment platform to improve symptoms of nasal breathing disorders. It has developed a unique treatment platform for the physician’s office, utilizing low-power radiofrequency energy to remodel nasal soft tissues and address the underlying cause of nasal congestion.
Aerin, which has offices in Austin, Texas, Sunnyvale, California, and Singapore, is backed by healthcare investors KCK Group and Targeted Technology.