Horizon Technology Finance and Emalex Biosciences Announce $15 Million Venture Loan Facility
Biopharmaceutical company advancing clinical research evaluating novel treatment for Tourette syndrome and childhood-onset fluency disorder
Horizon Technology Finance Corporation, 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, and Emalex Biosciences, Inc., a clinical-stage biopharmaceutical company focused on developing treatments for central nervous system movement disorders and fluency disorders, announced today a $15 millionventure loan facility to advance Emalex’s development programs through clinical trials.
Emalex is a portfolio company of Paragon Biosciences, a life science innovator that creates, invests in, and builds life science companies. Paragon accelerates research and development in artificial intelligence, cell and gene therapy, synthetic biology and biopharmaceuticals.
Recommended AI News: Kvarøy Arctic Using IBM Blockchain to Trace Norwegian Farmed Salmon to NA Stores
“Paragon and its partners have invested or committed to invest more than $1B in our portfolio companies to achieve our mission of solving human and societal challenges,” said Jeff Aronin, Chairman and Chief Executive Officer of Paragon Biosciences. “Emalex is leading the fight to get novel medicines approved for complex neurology disorders that have no or few treatments available. There is a significant unmet need in Tourette syndrome and childhood-onset fluency disorder, and we are proud that Emalex is progressing with clinical research that might help improve the lives of patients and their families.”
“Emalex is rapidly progressing the development of ecopipam in two Phase 2 clinical trials and has been granted Fast Track designation by the FDA for the treatment of Tourette syndrome,” said Gerald A. Michaud, President of Horizon. “Ecopipam has shown promise in treating Tourette syndrome and childhood-onset fluency disorder, which affects over 3 million Americans. We are pleased to support Emalex as they continue to advance ecopipam through the clinical trial and regulatory process.”