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Horizon Technology Finance Corp announces settlement of ACT Biotech, Inc. Investment


Thursday, 19 Dec 2013 09:51am EST 

Horizon Technology Finance Corp:Says in connection with the sale of substantially all of the assets of ACT Biotech, Inc, Horizon has successfully settled its investment in ACT.Says in connection with the sale of substantially all of the assets of ACT to a private, venture capital-backed, biotechnology company, Horizon received a cash payment of about $2.1 mln, which Horizon applied to its venture loan balance.Says the success payments are subject to the buyer of the ACT assets achieving various development and commercialization milestones with the purchased assets.Says it cannot guarantee that it will receive any success payments. 

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