Farmington’s Horizon Technology Finance said it has made separate loans totaling $15 million to two bioscience companies in New Jersey and Massachusetts.
The specialty financier said it has closed a $10 million venture loan with Palatin Technologies in Cranbury, N.J., which is a biopharma company developing therapeutics to treat disease.
Horizon has also loaned $5 million to Interleukin Genetics, a Waltham, Mass. company that makes genetic tests.
The four-year Palatin loan includes interest-only payments for 18 months. Horizon also received warrants to purchase 666,666 shares of Palatin common stock.
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The Interleukin loan includes 15 months of interest-only payments and warrants to purchase for 2.49 million shares of the company’s stock.
