Codexis announced it has entered into a loan facility agreement with an affiliate of Innovatus Capital Partners for up to $40M, including $30M upfront and access to an additional $10M upon achieving certain prespecified revenue thresholds. This loan facility reinforces Codexis’ cash position and provides additional flexibility to its projected runway through cash-flow positive around the end of 2026. Following the closing of the term loan agreement, Codexis retained approximately $29M in net proceeds from the first tranche. The loan carries an interest-only period of 36 months and a total term of 60 months.
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