Horizon Technology Finance Corporation (an affiliate of Monroe Capital and a leading 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 sustainability industries) announced it has provided a $35 million venture loan facility to Onkos Surgical, of which $30 million has been initially funded.
Onkos plans to use the proceeds of the loan facility to accelerate the manufacturing and commercialization of NanoCept. This antibacterial coating technology is used on FDA-granted orthopedic implants to reduce bacterial contamination during implantation. Bacterial contamination of implants is a major clinical challenge that can have devastating implications for patients and poses a substantial financial burden to the healthcare system.
Onkos Surgical innovates in the musculoskeletal space, developing technologies to address the clinical challenges associated with complex orthopedic procedures. And the company’s portfolio of products provides solutions for adult and pediatric patients who have bone loss from tumors, trauma, or revision of failed orthopedic implants.
In April 2024, NanoCept was granted the first-ever FDA De Novo authorization for an antibacterial coating technology used on orthopedic implants, showing Onkos’s innovation capabilities. And NanoCept has demonstrated excellent safety and biocompatibility, with broad-spectrum efficacy (up to 99.999% kill rate in standardized in-vitro testing of bacteria commonly found in the operating room environment). Onkos is backed by renowned investors, including 1315 Capital, Canaan Partners, and SV Health Investors.
KEY QUOTES:
“Onkos Surgical is disrupting the orthopedic marketplace with a suite of differentiated products, including NanoCept. We are pleased to support the growth of Onkos as it continues to innovate novel solutions that address diverse unmet needs in a growing and important market segment.”
– Gerald A. Michaud, President of Horizon
“We are committed to transforming the standard of care across complex orthopedic procedures, with the goals of providing benefit to patients, clinicians, and health systems while creating value for our investors as we expand our footprint in a $3 billion market. Horizon’s support will further fuel our growth engine by accelerating the commercialization of NanoCept, a transformative and first-of-its-kind orthopedic technology that has substantial potential to meaningfully improve patient outcomes.”
– Patrick Treacy, Onkos Surgical CEO and Co-founder
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