Horizon Technology Finance Corp. in Farmington has led a $7 million venture debt round for a Massachusetts company developing a glaucoma treatment.
The debt adds to a $21 million financing round Inotek also announced today.
Inotek’s drop-administered Trabodenoson drug candidate is in Phase 2 development, with hopes for a Phase 2 study later this year. The company believes the drug reduces intra-ocular pressure in glaucoma patients by increasing aqueous fluid outflow via the eye’s trabecular meshwork — its primary outflow pathway.
Inotek said that differentiates its drug candidate from other glaucoma treatments, which either reduce inflow to the eye or increase draining through a secondary outflow pathway.
Horizon has announced $45.5 million in venture loans this year, including two to Connecticut companies. In April, it announced a $2 million loan to New Haven Pharmaceuticals and in March it announced a $5.5 million loan to Stamford’s Decisyion.
