Corinth MedTech, Inc., a San Jose, California-based medical device company that develops, manufactures and markets urological device solutions, received a $5M venture loan from Horizon Technology Finance Corporation (NASDAQ: HRZN).
The company will use the loan proceeds for general working capital purposes.
Led by Steve Duddy, President and Chief Executive Officer, Corinth MedTech has developed the Veloxion™ System, an FDA-cleared device for treating symptoms related to Benign Prostatic Hyperplasia (BPH), more commonly known as TURP for enlarged prostate. The Veloxion™ System includes a single-use resectoscope with integrated camera, a light source and a complete fluid management system for TURP and TURBT (removal of bladder tumors) procedures, allowing physicians to perform tissue resections for their patients.
The system is cleared for use in treating the symptoms of Benign Prostatic Hyperplasia (BPH) and Bladder Tumors, and its commercial launch is slated for 2021.