MacuLogix, a Middletown, PA-based medical device company in the optometry and ophthalmology industry, received a $10m 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, led the loan facility.
Horizon funded an initial $3.75m of its commitment under the Term Loan Facility and Silicon Valley Bank funded $1.25m of its commitment. SVB also provided a $3m senior revolving line of credit to MacuLogix.
The company will use the proceeds for general working capital purposes.
Led by William D. McPhee, President and CEO, MacuLogix is the maker of the AdaptDx automated dark adaptometer, which allows eye care professionals to measure retinal function to accurately diagnose age-related macular degeneration (AMD).
The company is backed by such investors as Roche Ventures, Fisk Ventures and Life Sciences Greenhouse of Central Pennsylvania.