Trinity Capital Inc. Provides $40 Million Term Loan to Taysha Gene Therapies
PHOENIX, Dec. 19, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $40 million in term loans to Taysha Gene Therapies, Inc. (NASDAQ: TSHA) ("Taysha"), a clinical-stage gene therapy company, pursuant to a Loan and Security Agreement dated November 13, 2023, by and among Taysha, the lenders party thereto from time to time (the "Lenders"), and Trinity, as administrative agent and collateral agent for the Lenders.
Taysha is focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system ("CNS"). Its lead clinical program TSHA-102 is in evaluation for Rett syndrome, a rare neurodevelopmental disorder with no approved disease-modifying therapies that treat the root cause of the disease. The Company's management team has proven experience in gene therapy development and commercialization. Taysha leverages this experience, its manufacturing process and its intrathecal delivery in combination with a clinically and commercially proven AAV9 capsid, in an effort to translate treatments from bench to bedside.
"We are excited to partner with Taysha as it advances its lead gene therapy program in clinical evaluation for Rett syndrome, and believe Taysha has the potential to achieve significant advancements in the gene therapy field," said Igor DaCruz, Managing Director, Life Sciences at Trinity. "We look forward to working together with their management team as Taysha focuses on bringing novel treatments with disease-modifying potential for diseases, like Rett syndrome, with high unmet need."
With the term loan, Taysha believes it will be able to fund its operating expenses and capital requirements into 2026 to support the clinical development of its TSHA-102 program in Rett syndrome.
"We are highly encouraged by the support from Trinity, which we believe further reinforces Taysha's vision to transform the lives of patients suffering from devastating diseases through the development of AAV-based gene therapies," said Kamran Alam, Chief Financial Officer of Taysha. "With Trinity's support, we believe we are well-positioned to continue to execute across our near-term milestones for our TSHA-102 program in Rett syndrome."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.
About Taysha Gene Therapies
Taysha Gene Therapies (Nasdaq: TSHA) is on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team's proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program. Together, we leverage our fully integrated platform with a goal of dramatically improving patients' lives. More information is available at www.tayshagtx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "expects," "intends," "projects," "plans," and "future" or similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements concerning: Taysha's ability to fund its operating expenses and capital requirements into 2026, the potential benefits of TSHA-102 and Taysha's other preclinical product candidates, the potential for Taysha to achieve significant advancements in the gene therapy field and Taysha's ability to execute across its near-term milestones. Forward-looking statements are based on current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Taysha's business are described in detail in its Securities and Exchange Commission ("SEC") filings, including in its Annual Report on Form 10-K for the full-year ended December 31, 2022, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, both of which are available on the SEC's website at www.sec.gov. Additional information will be made available in other filings that Taysha makes from time to time with the SEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. These forward-looking statements speak only as of the date hereof, and Taysha and Trinity disclaim any obligation to update these statements except as may be required by law.
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SOURCE Trinity Capital Inc.
