TRIN - Trinity Capital Inc. Provides $25 Million Growth Capital To RxAnte Inc.

PR Newswire

PHOENIX , Dec. 20, 2022 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN, TRINL), a leading provider of diversified financial solutions to growth-stage companies, today announced a $25 million facility to support the growth of RxAnte Inc., a leading pharmacy care management business. $15 million was drawn under the facility, and RxAnte has the option to draw an additional $10 million , subject to the conditions under the agreement.

RxAnte improves prescription drug use for regional and national health plans covering over 30 million lives. The company uses patented analytic technology and targeted clinical services to lower costs, improve quality scores, and enhance member experience.

The team at RxAnte expects to use investment proceeds for scaling operations to support accelerating growth, particularly for the company's value-based pharmacy service aimed at medically complex and vulnerable Medicare beneficiaries. The service has proven to reduce hospitalizations and total cost of care and will continue to expand nationwide in 2023.

"We are proud to partner with the RxAnte team," said Rob Lake , Managing Director, Life Sciences of Trinity. "Their innovative approach to value-based care in the pharmacy space is serving an unmet need, and we look forward to supporting their continued growth."

Corbin Director, Chief Financial Officer of RxAnte, said, "Trinity has been a great and collaborative financial partner that provided a tailored solution for RxAnte's growth capital needs."

"We are delighted to have Trinity as a financial partner," added Josh Benner , Chief Executive Officer of RxAnte. "This capital enables us to continue our pioneering work with health plans to bring down the $528 billion annual cost of under-use, over-use, and misuse of prescription drugs."

Trinity (Nasdaq: TRIN and TRINL), 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, 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 .

From its founding in 2011, RxAnte's mission has been exceedingly simple: Get more from medicines. Today, we are the leading provider of predictive analytics and targeted clinical programs that improve medication prescribing and adherence. With over 30 million lives under management, our patented solutions for health plans and value-based providers are proven to improve quality scores and lower costs by improving prescription drug use. A key component of RxAnte's offering is its Mosaic Pharmacy Service, which provides value-based, in-home pharmacy services to medically complex and vulnerable seniors. Mosaic directly improves prescribing, adherence, and drug therapy outcomes for patients under our care with the objective of improving quality and lowering total cost of care.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Trinity undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Trinity Capital Inc.