Codexis Secures $40M In Strategic Financing Deal With Innovatus Capital Partners To Further Strengthen Cash Position Ahead Of Key Milestones
Portfolio Pulse from Benzinga Newsdesk
Codexis, Inc. (CDXS) has secured a strategic financing deal worth up to $40 million with Innovatus Capital Partners to strengthen its cash position and support the development and commercialization of its ECO Synthesis manufacturing platform for RNAi therapeutics. The deal includes $30 million upfront and an additional $10 million upon reaching certain revenue thresholds. This financing is expected to extend Codexis' cash runway through the end of 2026 and support the creation of an ECO Synthesis Innovation Lab for siRNA production.
February 13, 2024 | 9:47 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Codexis secures up to $40M in financing from Innovatus Capital Partners, enhancing its cash position and supporting the development of its ECO Synthesis platform for RNAi therapeutics.
The strategic financing deal with Innovatus Capital Partners is a significant positive development for Codexis. It not only strengthens the company's cash position but also supports the development and commercialization of its ECO Synthesis manufacturing platform. This is expected to enhance Codexis' growth prospects and financial stability, making it an attractive investment opportunity in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100