It was announced today that New Haven Pharma was able to secure a US$2 million venture loan from Horizon Technology Finance.
New Haven Pharmaceuticals, Inc is a developer of prescription drugs that uses available drug components and other drugs in the market that are safe to be used for treatments and therapies. Horizon Technology Finance Corporation is a renowned finance company that grants secured loans to venture capitalist and private equity backed companies.
Patrick P. Fourteau,NHP's President & CEO, disclosed, "Horizon's $2 million venture loan facility provides NHP with the right capital structure and the timely liquidity to continue to execute our product development and FDA registration plans."
While NHP's Executive Chairman, Harry H. Penner, Jr. added, "The responsiveness and flexibility of the Horizon team resulted in a seamless process from initial contact to funding and a very positive business experience. It's gratifying to have Horizon, a Connecticut-based company like our own, as a financial partner."
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