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Biopharma Cred. (BPCR) Share News

IN BRIEF: BioPharma Credit says Epizyme investment repaid amid buyout

22nd Aug 2022 19:00

BioPharma Credit PLC - life sciences debt investment trust - Says had USD110 million investment in Epizyme Inc in form of senior secured loan. "The loan was made in four different tranches and each tranche had different prepayment economics," BioPharma adds. Ipsen on Friday completed acquisition of biopharmaceutical firm Epizyme. BioPharma says has received USD119 million, including USD9 million prepayment and make-whole fees. Realises internal rate of return of just over 15%. Read More

IN BRIEF: BioPharma Credit may benefit as Pfizer buys investee GBT

9th Aug 2022 09:53

BioPharma Credit PLC - life sciences debt investment trust - Says it has USD132.5 million investment in Global Blood Therapeutics Inc, a company which has agreed to be acquired by Pfizer Inc. BioPharma investment is in form of senior secured loan. Loan will be prepaid when Pfizer buy of GBT closes. "The loan was invested in three different tranches with each tranche subject to different prepayment economics," BioPharma adds. Should prepayment occur before start of October, BioPharma will receive US38 million through paydown, prepayment and make-whole fees. Read More

IN BRIEF: BioPharma revises loan agreements with Akebia Therapeutics

20th Jul 2022 13:51

BioPharma Credit PLC - Winchester, England-based life sciences debt investment trust - Says that together with BioPharma Credit Investments V it has entered into a second amendment and waiver with Akebia Therapeutics Inc. This amends and waives certain provisions of the USD100 million loan agreement dated November 11, 2019. As a result of this amendment Akebia has made a USD25 million prepayment, reducing the outstanding balance to USD75 million. Akebia will make payments on the remaining balance as originally agreed, starting in September. The loan balance is expected to be USD27 million by January 2024. Read More

IN BRIEF: BioPharma Credit says Epizyme investment to be prepaid

28th Jun 2022 20:17

BioPharma Credit PLC - life sciences debt investment trust - Notes Monday's announcement from Ipsen regarding its agreement to acquire Epizyme Inc. BioPharma has a USD110 million investment in a senior secured loan in Epizyme, which it says would be prepaid upon closing of the acquisition. "The loan was made in four different tranches with each tranche having a different prepayment economics. Depending on the actual timing of the prepayment, the company would be expected to receive between USD3 million to USD7 million in prepayment and make-whole fees," company explains. Read More

UK shareholder meetings calendar - next 7 days

6th Jun 2022 15:58

IN BRIEF: Investment manager completes sale of BioPharma Credit shares

22nd Apr 2022 06:57

BioPharma Credit PLC - life sciences debt investment trust - Pablo Legorreta, co-founder of Pharmakon Advisors, the company's investment manager, completes sale of 55.0 million shares in BioPharma, a 4.0% stake. The disposal, run by JP Morgan Cazenove, was at USD0.97 per share, so worth USD53.4 million. Legorreta, who also is founder & chief executive officer of Royalty Pharma, retains 21.7 million shares, a 1.6% stake. BioPharma Credit receives no proceeds, as the sale is of existing shares. Read More

IN BRIEF: BioPharma Credit investment manager in USD56 million sale

20th Apr 2022 15:58

BioPharma Credit PLC - life sciences debt investment trust - Pablo Legorreta, co-founder of Pharmakon Advisors, the company's investment manager, will sell 55.0 million shares in BioPharma, a 4.0% stake. The sale will be conducted immediately by JP Morgan Cazenove as an accelerated book building process to institutional investors. At the current market price, the sale would be worth about USD56 million. Legorreta, who also is founder & chief executive officer of Royalty Pharma, will retain 21.7 million shares, a 1.6% stake. BioPharma Credit will receive no proceeds, as the sale is of existing shares. Read More

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