Meditrina, Inc., a Cupertino, CA-based pre-FDA cleared medical device company, received a $5m 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, of which $3m has been initially funded.
The company will use the proceeds for further development and accelerate commercial activities of the Aveta system.
Founded in 2016 by Csaba Truckai, Meditrina is a pre-FDA cleared medical device company focused on developing fully disposable endoscopes and an office-based platform that can address multiple procedures for gynecologists. Their first system, Aveta, is intended for hysteroscopic diagnostic and therapeutic uterine procedures (i.e. removal of polyps and fibroids).