Horizon Technology Finance Grants $35M Loan to GT Medical Technologies

Horizon Technology Finance Corporation (NASDAQ: HRZN), an affiliate of Monroe Capital, has announced the approval of a $35 million venture loan facility to GT Medical Technologies, Inc. (GT MedTech). Initially, $15 million of this loan has been disbursed.

GT MedTech is known for its innovative product, GammaTile®, which offers a unique solution for treating brain tumors. GammaTile is a bioresorbable collagen tile embedded with Cesium-131 radiation seeds, which deliver a high dose of radiation directly to the tumor cavity. This method aims to reduce the risk of tumor recurrence by targeting the tumor site while minimizing radiation exposure to healthy tissues, distinguishing it from traditional external beam radiation therapy.

The company is supported by notable investors such as MVM Partners, Glide Healthcare Partners, MedTech Venture Partners, and BlueStone Venture Partners. The funds from the loan will support GT MedTech's general growth and working capital needs.

Gerald A. Michaud, President of Horizon, praised GT MedTech's pioneering approach to brain tumor treatment with its FDA-cleared GammaTile product. He highlighted the potential of this solution to revolutionize the standard of care for brain tumor patients, offering a cost-effective option for hospitals and benefiting the broader healthcare ecosystem.

Per Langoe, CEO of GT MedTech, expressed his enthusiasm for Horizon's support. He emphasized that GammaTile provides targeted radiation therapy immediately following tumor removal, targeting residual tumor cells in the cavity. The partnership with Horizon is expected to facilitate GT MedTech's strategic commercial and market expansion efforts, making GammaTile available to more patients who need this advanced treatment.

Horizon Technology Finance Corporation focuses on providing secured loans to venture capital-backed companies in various industries, including technology, life sciences, healthcare information and services, and sustainability. Horizon aims to maximize returns on its investment portfolio through current income from debt investments and capital appreciation from warrants. Headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, Horizon has investment professionals located throughout the United States. Monroe Capital, its affiliate, is an asset management firm with $19.5 billion under management, specializing in private credit markets across multiple strategies such as direct lending, technology finance, venture debt, structured credit, real estate, and equity.

GT Medical Technologies was established by a group of brain tumor specialists dedicated to improving the standard of care for brain tumor patients. GammaTile, which has been FDA-cleared for treating newly diagnosed malignant intracranial neoplasms and recurrent intracranial neoplasms, has been available in over 100 leading institutions across the United States since its market release in March 2020, with more centers adopting the technology each month.

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