ZetrOZ, Inc. announced that it has received a $5 million venture loan facility from Horizon Technology Finance Corporation. The funding will provide the medical device designer and manufacturer with capital to expand its wearable ultrasound product marketing and sales beyond the professional market and into the consumer arena. Horizon funded an initial $1.5 million of its $5 million commitment under the venture loan security agreement.
"This financial commitment from Horizon marks a significant step forward in our company growth and vision of providing a drug-free, non-invasive alternative for pain sufferers," according to ZetrOZ co-founder and Chief Executive Officer Bryant Guffey. "We look to them as important partners as we continue to expand access to our mobile, wearable sam® (sustained acoustic medicine) therapy system in the rehab and chronic pain markets."
Current clinical outcomes demonstrate that sustained acoustic medicine (sam®) is an effective non-pharmaceutical approach for treating pain symptoms such as knee arthritis and upper back pain. sam® has been adopted by pro and collegiate athletes such as the Bridgeport Bluefish for prehab and rehab programs. ZetrOZ is also engaging in new multi-site clinical research with NSBRI to test the effectiveness of the device for astronauts in Earth and space-flight conditions and the U.S. Army Military Health Command to test sam® technology for more rapid wound closure.
"ZetrOZ is an exciting new portfolio company developing a unique, drug-free pain and rehabilitation therapy," said Gerald A. Michaud, President of Horizon. "We are pleased to provide this growth capital to ZetrOZ, a leader in its field."
ZetrOZ is revolutionizing the medical therapeutic industry with its proprietary technology including the recently introduced sam® sustained acoustic medicine and UltrOZ®, miniature wearable ultrasound devices for accelerated recovery and pain management. The innovative non-invasive therapeutic technologies have been shown to be more efficient, more portable, and more economically viable than any ultrasound systems presently available and are currently the world's smallest and strongest ultrasound therapy systems.
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.