Trinity Capital Inc. Commits $35 Million in Equipment Financing to ApiJect
Rhea-AI Summary
Trinity Capital Inc. (NASDAQ: TRIN) has committed $35 million in equipment financing to ApiJect Systems, Corp, a medical technology company focused on prefilled, single-dose injection devices. ApiJect, based in Stamford, CT, designs rapidly scalable, cost-efficient drug delivery systems for pharmaceutical companies. The financing will enable ApiJect to maximize the value of their hard assets, scale operations, and fund growth initiatives.
ApiJect aims to make injectable medicines and vaccines safer and more accessible worldwide. The company plans to expand its manufacturing capacity in the U.S., file for regulatory approval for its initial device in the coming months, and partner with more pharmaceutical companies interested in using their injection technology.
Positive
- Commitment of $35 million in equipment financing to ApiJect
- Potential for expanded manufacturing capacity in the U.S.
- Upcoming regulatory approval filing for initial device
- Growing list of potential pharmaceutical company partnerships
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TRIN declined 0.56%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Based in
"We are proud to support ApiJect on their mission to make injectable medicines and vaccines safer and accessible to everyone," said Melana Ferguson, Director, Equipment Finance at Trinity. "We look forward to working with their talented leadership team to accelerate the company's growth."
The new facility from Trinity will allow ApiJect to maximize the value of their hard assets to continue to scale operations and fund growth initiatives.
"We built the ApiJect injection platform to deliver an affordable prefilled option for most, if not all, injection medicines supported by a high volume manufacturing process and compact supply chain," said Jay Walker, Co-Founder, Executive Chairman, and CEO of ApiJect. "With Trinity's partnership, we are well positioned to expand our manufacturing capacity here in the
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 ApiJect Systems
ApiJect Systems, Corp. is a public-benefit medical technology company working to bring prefilled, single-dose injections to more people in every market. The ApiJect Platform enables pharmaceutical and biotech companies to design scalable prefilled injectors and efficiently fill-finish them with their injectable drug products. This can be done either on one of their own ApiJect-licensed Blow-Fill-Seal packaging lines or at one of our world-class manufacturing partners.
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SOURCE Trinity Capital Inc.
FAQ
What is the amount of equipment financing Trinity Capital (TRIN) committed to ApiJect?
How will ApiJect use the financing from Trinity Capital (TRIN)?
What is ApiJect's main focus as a medical technology company?
When does ApiJect plan to file for regulatory approval for its initial device?
