BioPharma Credit PLC - life sciences debt investment trust - Will invest up to USD100 million into UroGen Pharma Inc via a senior secured loan.
UroGen is based in Israel and the US, and creates novel solutions which treat urothelial and specialty cancers.
Under the loan BioPharma Credit will increase up to USD50 million, with USD37.5 million in the first tranche and up to USD12.5 million by the end of December 2022, while subsidiary BioPharma-V will invest USD50 million as a parallel.
The loan will mature in March 2027, and will bear interest at three-month LIBOR plus 8.25% per annum.
Current stock price: USD1.01
12-month change: up 5.2%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Biopharma Cred. (BPCR)