(Alliance News) - BioPharma Credit PLC on Friday said that, alongside its subsidiary BioPharma Credit Investments V Master LP, it has signed a definitive senior secured term loan agreement with Collegium Pharmaceutical Inc.
The life sciences debt investor said it will invest USD165 million and BioPharma Credit Investments V will invest an additional USD35 million. BioPharma said the loan will mature in January 2024.
Collegium Pharma is a New-York listed biopharmaceutical company with a market capitalisation of USD680 million.
"We are pleased to partner with Collegium Pharmaceutical in this transaction", said Pedro Gonzalez de Cosio, chief executive of Pharmakon Advisors LP. "Led by an excellent management team, Collegium Pharmaceutical is marketing meaningfully differentiated products that treat moderate to severe pain."
Pharmakon Advisors is an investment manager of BioPharma.
The company's shares were trading 0.4% higher in London on Friday at USD1.00 each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Biopharma Cred. (BPCR)