Horizon Technology provides $50M loan facility to Pelthos Therapeutics

Horizon Technology (HRZN) “announced it has provided a $50 million venture loan facility to Pelthos Therapeutics (PTHS), with an initial funding of $30 million, and up to $20 million to support future growth. Pelthos is a publicly traded biopharmaceutical company that is licensed to commercialize ZELSUVMI(TM) (berdazimer) topical gel, an FDA-approved treatment of molluscum contagiosum, a common skin infection characterized by small bumps or lesions. ZELSUVMI delivers nitric oxide directly to the affected skin or tissue via the Nitricil platform, which enables the gel to slowly and safely release onto the affected areas. Recently, Pelthos also acquired the rights to Xepi(R) Cream, a topical treatment for impetigo, and Xeglyze, a topical treatment for head lice. The loan proceeds will be used for working capital and general growth purposes.”