Elligo Health gets $40 million loan via Horizon Technology

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – Elligo Health Research, Inc. received a $40 million venture loan facility, of which $25 million was initially funded, according to a news release from the lender, Horizon Technology Finance Corp.

The company will use the loan proceeds for general growth and working capital purposes.

"Elligo's cutting-edge technology has the potential to solve the patient accessibility issue that has consistently impacted the clinical trial market," Gerald A. Michaud, president of Horizon, said in the release. "With upwards of 95% of physicians and patients not able to participate in clinical trials, Elligo's platform presents a compelling opportunity to accelerate clinical research, which is a win for the entire healthcare ecosystem. We are pleased to support Elligo in their ongoing efforts to improve the clinical trial system."

Based in Austin, Tex., Elligo accelerates clinical trials through direct access to known, diverse patients from more than 115 hospitals an health systems, 200 healthcare-based sites and 100 research-based sites.

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