Horizon Technology Finance Leads $25 Million Venture Loan Facility For VTv Therapeutics

FARMINGTON, Conn. and HIGH POINT, N.C., Nov. 15, 2016 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (NASDAQ:HRZN) ("Horizon"), 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 cleantech industries, announced today that Horizon and Silicon Valley Bank ("SVB"), the bank of the world's most innovative companies and their investors, have provided a $25 million venture loan facility for vTv Therapeutics Inc. (NASDAQ:VTVT) ("vTv"), a clinical-stage biopharmaceutical company committed to the discovery and development of treatments for a range of human diseases including Alzheimer's disease and diabetes.  

Under the terms of the venture loan facility, the loan will be shared equally with Silicon Valley Bank. vTv will use the proceeds of the venture loan for working capital purposes.

"Horizon is excited to lead this venture debt financing for vTv," said Gerald A. Michaud, President of Horizon. "vTv's proprietary drug discovery platform has led to its lead clinical programs for the treatment of Alzheimer's disease and Type 2 diabetes, in addition to other potential new treatments. Horizon's and Silicon Valley Bank's growth capital will support vTv's continued research and clinical progress."

Stephen L. Holcombe, President and CEO of vTv, stated, "With their knowledgeable teams of lending professionals and strong array of venture debt products, Horizon and SVB provided us a flexible financing solution that matched our operational needs. This loan facility enables us to keep moving forward with our strategic initiatives and provides additional financial support for our ongoing clinical trials."

"We're pleased to provide this debt financing to vTv with Horizon as vTv aims to develop human therapeutics to fill unmet medical needs for patients with serious diseases," said Scott McCarty, Director of Silicon Valley Bank in Atlanta. "We look forward to working with the vTv team as they continue to advance their pipeline of drug candidates."

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