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.