REDWOOD CITY, Calif., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Codexis, Inc. (Nasdaq: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced it has entered into a $60 million senior secured term loan agreement with Trinity Capital Inc. (NYSE: TRIN), a leading provider of flexible capital solutions for life sciences and healthcare industries. The Company used the proceeds of the first tranche of this transaction to retire the debt that was held by Innovatus Life Sciences Lending Fund I, LP, which would have begun amortizing in March 2027. Post-closing, the Company has a total of $42.5 million in outstanding debt. The Trinity term loan provides for 48 months of interest-only payments followed by a 12-month amortization period beginning November 2030.

“We are pleased to enter into this partnership with Trinity Capital, as this refinancing enhances our financial position as we look ahead to executing on our upcoming key milestones,” said Georgia Erbez, Chief Financial Officer and Chief Business Officer of Codexis. “The new facility provides us with flexibility in our capital structure to advance many of our growth initiatives in the siRNA therapeutic sector. Industrializing our ECO Synthesis platform is a primary objective, and achieving important milestones in both GMP manufacturing and scale-up of oligonucleotide synthesis underpins the expansion of our position and influence in the industry.”

“Providing growth capital to innovative companies operating in attractive, high-growth markets is a core focus of Trinity Capital’s business strategy,” said Rob Lake, Senior Managing Director, Healthcare & Life Sciences at Trinity Capital. “We are excited to work with Codexis in support of their vision to prove and industrialize the siRNA manufacturing process with their ECO Synthesis^® Manufacturing Platform and are pleased to facilitate Codexis’s continued development.”

For more information regarding the terms applicable to the senior secured debt, please refer to the full text of the related loan and security agreement, which will be filed by Codexis as an exhibit to a Current Report on Form 8-K with the Securities and Exchange Commission.

About Codexis, Inc.

Codexis^® is a leading provider of high-performance enzymatic solutions for efficient and scalable therapeutics manufacturing. The Company is currently developing its proprietary ECO Synthesis^® Manufacturing Platform, an aqueous enzymatic process that may offer a scalable alternative to traditional solid phase organic synthesis of oligonucleotide manufacturing. Initially, Codexis is applying its technology to address the rapidly growing demand for RNAi therapeutics. Codexis’ unique enzymes can drive improvements such as higher yields, increased purity, reduced energy usage and waste generation, stereoisomer control of siRNA, and improved overall capacity in manufacturing at substantially lower capital requirements, all of which may lead to greater efficiency and reduced costs. In addition, the Company supplies high-performance enzymes through its BioCatalysis business that are used in the manufacture of multiple commercially available small molecule therapeutics. For additional information, please visit https://www.codexis.com.

About Trinity Capital, Inc.

Trinity Capital Inc. (NYSE: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources and structures investments in well-capitalized growth-oriented companies across five distinct lending verticals: Tech Lending, Equipment Finance, Healthcare & Life Sciences, Sponsor Finance, and Asset Based Lending. As a long-term, trusted partner for innovative companies seeking tailored debt solutions, Trinity Capital has deployed more than $6.2 billion across over 490 investments since inception in 2008 (as of June 30, 2026). Headquartered in Phoenix, Arizona, Trinity Capital’s dedicated team is strategically located across the United States and Europe. For more information on Trinity Capital, please visit trinitycapital.com and stay connected to the latest activity via LinkedIn.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Codexis, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the anticipated use of proceeds, the availability of additional tranches under the term loan facility, Codexis’ financial position and capital structure, and Codexis’ plans, objectives and milestones, including with respect to its ECO Synthesis^® Manufacturing Platform. Such forward-looking statements involve substantial risks and uncertainties that could cause Codexis’ future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Codexis undertakes no obligation to update or revise any forward-looking statements, including risks related to Codexis’ ability to satisfy the conditions to drawing additional tranches, comply with the covenants under the loan and security agreement and service its debt, and successfully develop and scale up its ECO Synthesis^® Manufacturing Platform. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Codexis’ business in general, please refer to Codexis’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 11, 2026, and Codexis’ other periodic reports filed with the SEC.

Investor Contact for Codexis:
Georgia Erbez
(650) 421-8100
ir@codexis.com

Media Contact for Trinity
Donnie Hogan
VP, Marketing Communications
dhogan@trinitycapital.com