Horizon Technology Finance Closes $3 Million Venture Loan to GenePeeks
FARMINGTON, Conn. and NEW YORK, N.Y., June 30, 2014-- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and cleantech industries, announced today it has closed a $3 million venture loan for GenePeeks, Inc. ("GenePeeks"), a genetic information company focused on reproductive risk prediction. GenePeeks will use the funds to support its continued growth.
"GenePeeks has developed a groundbreaking technology that predicts heritable disease risk with superior breadth and sensitivity," stated Gerald A. Michaud, President of Horizon. "We are pleased to support GenePeeks with venture financing and believe the company's innovative patented technology provides GenePeeks with significant long-term growth potential in the rapidly growing genetic screening market."
Anne Morriss, CEO of GenePeeks, stated, "The growth capital with attractive terms provided by Horizon helps to unlock our potential for impact at a very important stage for the company. We appreciate the support and confidence of the Horizon team as we continue to make progress and help families protect their children from hundreds of life-threatening and life-altering conditions."
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, Horizon is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". In addition, Horizon's 7.375% Senior Notes due 2019 trade on the New York Stock Exchange under the ticker symbol "HTF." To learn more, please visit www.horizontechnologyfinancecorp.com.
About GenePeeks, Inc.
GenePeeks is a genetic information company focused on identifying inherited disease risk in future generations. GenePeeks digitally combines the genetic information of two potential parents, using patented algorithms to simulate the genetic interactions that occur naturally in human reproduction. With this innovative technology GenePeeks digitally creates and analyzes thousands of hypothetical genomes to uncover disease risk that cannot be seen with existing pre-pregnancy screening tools. The company's initial focus is the donor sperm industry, where it creates personalized catalogues of donors screened specifically for a client's unique genetic profile, enabling families to make a safer donor choice. For more information, visit www.genepeeks.com.
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Horizon Technology Finance Corporation
Christopher M. Mathieu
Chief Financial Officer
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