Horizon Technology Finance Provides $40 Million Venture Loan Facility to Elligo Health Research
Summary
, Oct. 2, 2023 /PRNewswire/ -- (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 sustainability industries, today announced it has provided a venture loan facility to \xae, Inc. ("Elligo"), of which has been initially funded.Elligo is revolutionizing clinical research with its innovative technology platform, which empowers clients to seamlessly utilize non-traditional clinical trial sites, significantly increasing clients access to untapped trial participants. "Elligos cutting-edge technology has the potential to solve the patient accessibility issue that has consistently impacted the clinical trial market," said , President of Horizon. ""We are excited to have Horizons support as we continue to make great strides in enhancing our adaptive engagement model," said , Ph.D., Founder and CEO of Elligo. "Our unique workflow automation feature, IntElligo\xae, in tandem with Elligos data capabilities, enables us to facilitate access to more patients and more efficient and cost-effective trials, thus accelerating new therapies and devices to market, which is critical to improving healthcare for all. Elligos SiteSelect model and Research Partner Services enable sites to seamlessly participate in trials, further advancing the development of new pharmaceutical, biotechnology, and medical device and diagnostic products.Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.