TRUMBULL — ZetrOZ Inc. has received a $5 million venture loan facility from Farmington-based Horizon Technology Finance Corp. (NASDAQ: HRZN), a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, health-care information and services and clean tech industries.
The funding will provide the medical device designer and manufacturer with capital to expand its wearable ultrasound product marketing and sales beyond the professional market and into the consumer arena. Horizon funded an initial $1.5 million of its $5 million commitment under the venture loan security agreement.
“This financial commitment from Horizon marks a significant step forward in our company growth and vision of providing a drug-free, non-invasive alternative for pain sufferers,” according to ZetrOZ co-founder and CEO Bryant Guffey. “We look to them as important partners as we continue to expand access to our mobile, wearable SAM (sustained acoustic medicine) therapy system in the rehab and chronic pain markets.”
Current clinical outcomes demonstrate that sustained acoustic medicine is an effective non-pharmaceutical approach for treating pain symptoms such as knee arthritis and upper back pain. The technology has been adopted by professional and collegiate athletes such as the Bridgeport Bluefish for prehab and rehab programs. ZetrOZ is also engaging in new multi-site clinical research with NSBRI to test the effectiveness of the device for astronauts in Earth and space-flight conditions and the U.S. Army Military Health Command to test SAM technology for more rapid wound closure.