BioPharma Credit PLC - Winchester, England-based life sciences debt investment trust - Declares an interim dividend of USD0.0625 for its third quarter ended September 30. This comprises of a special dividend of USD0.0450 and an ordinary dividend of USD0.0175. Says it is on track to pay and continues to target a 7 cent base annual dividend. Read More
Biopharma Credit PLC - New York-based life sciences debt investment trust - Company's investment manager, Pharmakon Advisors, notes the announcement made by Pfizer Inc on Wednesday about acquisition of Global Blood Therapeutics for USD5.4 billion. BioPharma had USD132.5 million investment in Global Blood Therapeutics in a senior secured loan which has been prepaid following the acquisition. The senior secured loan was invested through three different tranches. In total the company received USD175.4 million, including USD42.9 million of accrued interest, paydown, prepayment and make-whole fees, realising an internal rate of return of 28%. Read More
(Alliance News) - BioPharma Credit PLC on Wednesday posted a slightly higher net asset value as profit shot up on the back of increased investment. Read More
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
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
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
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
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
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
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
BioPharma Credit PLC - life sciences debt investment trust - Will invest up to USD100 million into UroGen Pharma Inc via a senior secured loan. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued Monday and not separately reported by Alliance News: Read More
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UK shareholder meetings calendar - next 7 days Read More