3rd Sep 2025 13:51
(Alliance News) - BioPharma Credit PLC on Wednesday said it has agreed a senior secured loan with Precigen Inc to lend up to USD62.5 million.
The London-based closed-ended investment company focused on the life sciences industry said it will invest up to USD62.5 million while wholly-owned subsidiary BioPharma Credit Investments V (Master) LP will lend up to a further USD62.5 million.
Precigen is a commercial-stage biopharmaceutical company, which specialises in the advancement of precision medicines to address difficult-to-treat diseases with a high unmet patient need.
Precigen's recently approved zopapogene imadenovec-drba, brand name Papzimeos, is the first approved therapy for the treatment of adults with recurrent respiratory papillomatosis.
Recurrent respiratory papillomatosis is a rare disease caused by a chronic human papillomavirus 6 or 11 infection, which causes recurrent benign tumours in the respiratory tract.
BioPharma said it will invest up to USD62.5 million across two tranches. The first tranche of USD50 million was drawn on Wednesday, and the second tranche of USD12.5 million is available to be drawn by the end of June 2027.
The loan will mature in September 2030 and will bear interest at the three-month secured overnight financing rate plus 6.5% per year, subject to a minimum SOFR of around 3.8%.
"The Precigen team is working towards a robust US commercialization of Papzimeos, a groundbreaking novel immunotherapy and we look forward to supporting the company and management team as they expand to international markets and pursue pediatric and additional HPV-related indications," said Pedro Gonzalez de Cosio, chief executive officer of Pharmakon Advisors LP, which is BioPharma's investment adviser.
Shares in BioPharma Credit were up 0.2% at 66.63 pence each in London on Wednesday afternoon.
By Michael Hennessey, Alliance News reporter
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