Horizon Technology Finance closed a $2 million venture loan facility with New Haven Pharmaceuticals, Inc. New Haven develops prescription pharmaceuticals that utilize currently marketed drugs or active pharmaceutical ingredients generally recognized as safe for use in therapeutic applications. The proceeds of the venture loan facility will be used for working capital purposes.

“We are pleased to provide NHP with a venture loan facility which will support its development of proprietary prescription pharmaceuticals,” stated Gerald A. Michaud , president of Horizon. “NHP continues to achieve important strides in developing products for patients with a higher risk for secondary strokes or acute cardiac events. Based on the company’s impressive product pipeline and experienced, well-respected management team, NHP represents a strong addition to Horizon’s high-quality investment portfolio.”

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 clean-tech industries.