Horizon Technology Finance Corporation closed a new $6.3 million venture loan to an existing portfolio company, New Haven Pharmaceuticals, Inc. (“NHP”), a privately held specialty pharmaceuticals company.

NHP will use the proceeds of the venture loan for working capital purposes. The new venture loan, together with Horizon’s existing venture loan, provides NHP with $10 million of debt capital from Horizon.

Patrick Fourteau, Chief Executive Officer of NHP, stated, “Our long-standing relationship with Horizon made the choice of a venture lender easy as we ready the launch of DURLAZA™, the first and only prescription low-dose extended-release aspirin for patients with a risk for secondary strokes or acute cardiac events. Horizon’s continued support has been important to us as we bring DURLAZA to market and continue our development of other groundbreaking prescription products.”

“We are pleased to provide NHP with an add-on venture loan to support the go-to-market strategy of DURLAZA, a breakthrough pharmaceutical product that recently received FDA approval,” stated Gerald A. Michaud, President of Horizon. “Our growth capital will support NHP’s expected commercial launch of DURLAZA in the fourth quarter of 2015.”

Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to companies backed by venture capital firms within the technology, life science, healthcare information and services and cleantech industries.