BioPharma Credit PLC - specialist life sciences debt investment trust - Enters into a senior secured loan deal with biopharmaceutical company BioCryst Pharmaceuticals Inc through its fully owned subsidiary, together with BioPharma Credit Investments V LP. Says will invest up to USD180.0 million and BioPharma-V to invest up to an additional USD270.0 million in parallel, with BioPharma Credit acting as collateral agent.
Under the terms of the transaction, BioPharma Credit says USD120.0 million of USD180.0 million is drawn at closing in the first tranche and up to an additional USD60.0 million may be drawn by September 30. Says the loan will mature in April 2028.
BioCryst currently markets Orladeyo, or called berotralstat, a treatment to prevent attacks of hereditary angioedema in adults and children 12 years of age and older. For 2022, Orladeyo net sales were USD251.6 million.
Current stock price: USD0.97, up 1.0% on Wednesday morning in London
12-month change: down 4.2%
By Xindi Wei, Alliance News reporter
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Biopharma Cred. (BPCR)