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(Alliance News) - BioPharma Credit PLC on Wednesday reported an uptick in net asset value as it expects its investment pipeline to grow this year.
The London-based closed-ended investment company focused on the life sciences industry said net asset value per share edged up 1.5% to 102.93 US cents as at December 31 from 101.39c a year prior.
The total dividend for 2023 is 10.21c, down 22% from 13.08c in 2022.
Looking ahead, Chief Executive Officer Pedro Gonzalez de Cosio said: "Following shareholder feedback, we have announced adjustments to the company's discount control mechanism and accordingly we look forward to capitalising on an active pipeline of new investment opportunities to ensure that the company has the potential to participate in attractive new investments."
He added: "We expect our investment pipeline to grow as new products and companies enter the market in 2024 and beyond. Pharmakon's extensive network and thorough approach will continue to identify strong investment opportunities. We remain focused on our mission of creating the premier dedicated provider of debt capital to the life sciences industry while generating attractive returns and sustainable income to investors."
BioPharma shares rose 2.8% to 73.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News slot editor
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