Horizon Technology provides $50 million loan facility to Pelthos

Horizon Technology Finance Corporation (NASDAQ: HRZN) has provided a $50 million venture loan facility to Pelthos Therapeutics Inc. (NYSE American: PTHS), with an initial funding of $30 million and up to $20 million available for future growth, according to a company statement.

Pelthos is a biopharmaceutical company licensed to commercialize ZELSUVMI (berdazimer) topical gel, an FDA-approved treatment for molluscum contagiosum, a skin infection. The treatment delivers nitric oxide directly to affected skin through the Nitricil platform. Pelthos has also acquired rights to Xepi Cream for impetigo treatment and Xeglyze for head lice treatment.

The loan proceeds will support working capital and general growth purposes. Paul Seitz, Chief Investment Officer of Horizon, said "ZELSUVMI offers a new at-home option for individuals with molluscum contagiosum, providing an alternative to traditional in-office procedures."

Scott Plesha, Chief Executive Officer of Pelthos, stated the facility "will be instrumental in helping us promote both ZELSUVMI and Xepi Cream to the pediatric and dermatologic communities, and assist us in further scaling our business, including the launch of the recently acquired Xeglyze."

Horizon Technology Finance is a specialty finance company that provides secured loans to venture capital and private equity-backed companies in technology, life science, healthcare, and sustainability sectors. The company is externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital.

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