Capstick’s absence has meant Exeter have been given injury dispensation to sign Welsh forward Carwyn Tuipulotu.
Capstrick made his Exeter debut in a Prem Rugby Cup match in late 2018 and featured in his first prem game the following February.
The former England Under 20 player has gone on to make 97 appearances, scoring nine tries, but has had just one injury-free season in the last four.
“He’s had some very good games with us,” added Baxter.
“He was one of those guys who gave us, over quite a long period, a really good squad depth across the back five.
“Obviously being home grown and coming from the area, coming through the academy, that all really helped us as well, so it’s been a bit of a shame because he’s never really been able to have unbroken time as an uninjured player.
“Obviously it’s disappointing for him, it’s disappointing for us, but it’s like anything isn’t it, we’ve got to try and make the best scenario we can of it and we feel like bringing in an additional player will help us with the quality of our training, the quality of our squad selection going forward.
“I don’t want to be in a scenario where in two or three months time we’re looking and we feel a bit light in the back five of the scrum because we haven’t taken the opportunity to strengthen the side now.”
