January 3, 2018

Horizon lends $12M to orthopedic startup

Farmington specialty financier Horizon Technology Finance Corp. says it loaned $12 million to a Minnesota developer of novel technology for treating fractured arm-leg bone joints.

Conventus Orthopaedics Inc., of Maple Grove, Minn., is using the proceeds for general working capital, Horizon Tech said. The loan closed on Dec. 22.

Conventus CEO Matthew Jewett said the funds will permit ongoing commercial development of Conventus' proprietary three-dimensional fracture management system, known as "The Conventus Cage." The unit is designed for less invasive bone-joint treatments and faster patient recovery, Jewett said.

Conventus' other investors include Deerfield Management and SightLine Partners.

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