Horizon Technology Finance Funds GT Medical Technologies' Growth

Horizon Technology Finance Supports Innovative Treatment

Horizon Technology Finance Corporation (NASDAQ: HRZN) has recently announced a significant $35 million venture loan facility directed towards GT Medical Technologies, Inc. This facility is positioned to bolster the company’s pioneering efforts in the treatment of brain tumors through advanced technology. Initially, $15 million of this loan has already been made available to GT MedTech, underscoring the financial backing that is essential for scaling its operations.

GT Medical Technologies and Its Groundbreaking Solution

GT Medical Technologies stands out with its flagship product, GammaTile, designed to revolutionize brain tumor treatment. The innovative product utilizes bioresorbable collagen tiles embedded with Cesium-131 radiation seeds, allowing for targeted therapy directly to the tumor site. This method is notably different from traditional external radiation treatments, as it minimizes unnecessary radiation exposure to surrounding healthy tissues, thereby increasing treatment efficacy.

Investors and Growth Plans

GT MedTech has attracted a formidable lineup of investors, including MVM Partners, Glide Healthcare Partners, MedTech Venture Partners, and BlueStone Venture Partners. With the financial support from Horizon, the company is set to enhance its operational capacity and engage in pivotal market expansion activities, which are critical to their growth strategy.

Leadership Insights

Gerald A. Michaud, President of Horizon Technology Finance, expressed optimism about the partnership, stating, “GT MedTech is pioneering brain tumor treatment with its FDA-cleared GammaTile. This solution will help transform the standard of care, while offering a cost-effective reimbursement profile to hospitals, creating a clear win for all stakeholders in the healthcare ecosystem.”

Per Langoe, the Chief Executive Officer of GT MedTech, emphasized their excitement over this partnership, saying, “By delivering targeted radiation immediately after tumor removal, GammaTile provides focused radiation to the tumor cavity, helping eradicate residual tumor cells. Our partnership with Horizon Technology Finance will allow us to continue our strategic commercial and market expansion initiatives.”

What Sets GammaTile Apart?

The FDA clearance for GammaTile highlights its innovative approach to treating patients with newly diagnosed and recurrent malignant intracranial tumors. Since its official market introduction, GammaTile has been adopted in over 100 prominent institutions throughout the country, with new centers continually integrating the product into their treatment protocols.

Horizon Technology Finance Overview

Horizon Technology Finance Corporation specializes in providing secured loans to ventures in the technology, life science, healthcare, and sustainability sectors. By aligning with innovative companies like GT Medical Technologies, it not only supports their financial needs but also fosters advancements that can significantly impact patient care. Headquartered in Farmington, Connecticut, Horizon maintains a robust presence with investment professionals across the U.S.

Frequently Asked Questions

What is the purpose of the $35 million loan to GT Medical Technologies?

The loan is intended to support GT Medical Technologies' growth, particularly for expanding their innovative GammaTile product into more healthcare institutions.

How does GammaTile work in treating brain tumors?

GammaTile employs bioresorbable collagen tiles embedded with radiation seeds to deliver targeted radiation directly to the tumor cavity, minimizing exposure to healthy tissue.

Who are the key investors backing GT Medical Technologies?

GT Medical Technologies is supported by notable investors including MVM Partners, Glide Healthcare Partners, MedTech Venture Partners, and BlueStone Venture Partners.

What are the advantages of partnering with Horizon Technology Finance?

Horizon provides essential capital which allows GT Medical Technologies to focus on strategic growth and enhance their market presence through innovative treatments.

What is Horizon Technology Finance's investment focus?

Horizon Technology Finance specializes in making secured loans to venture-backed companies within technology, life sciences, healthcare services, and sustainability industries.

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