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  5. STATEMENT RE IMMUNOGEN, INC.

Pin to quick picksBiopharma Cred. Regulatory News (BPCR)

Biopharma Cred. Information

Share Price Information for Biopharma Cred. (BPCR)

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Share Price: 0.84
Bid: 0.836
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Change: 0.002 (0.24%)
Spread: 0.004 (0.478%)
Open: 0.838
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BioPharma Credit is an Investment Trust

To generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry.

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STATEMENT RE IMMUNOGEN, INC.

13 Feb 2024 07:00

RNS Number : 9464C
BioPharma Credit PLC
13 February 2024
 

BioPharma Credit PLC

13 February 2024

 

 

 

 

BIOPHARMA CREDIT PLC

 

(THE "COMPANY")

 

STATEMENT RE ImmunoGen, Inc.

 

Pharmakon Advisors, LP, the investment manager of the Company, notes the announcement released 12 February 2024 by AbbVie Inc. ("AbbVie") regarding the completion of its acquisition of ImmunoGen, Inc. ("IMGN") (such acquisition, the "Transaction"). AbbVie and IMGN had previously announced the entering into of a definitive agreement regarding the Transaction on Thursday 30 November 2023.

 

The Company announced on 11 April 2023 an investment in a senior secured loan to IMGN of up to US$62.5 million in up to two tranches. The Company had previously funded the first tranche representing a US$37.5 million investment, which was prepaid upon the closing of the Transaction. The Company received US$50.6 million in total, including $13.1 million of accrued interest, additional consideration, and prepayment and make-whole fees.

 

Enquiries:

BioPharma Credit plc

via Link Company Matters Limited

Company Secretary

+44 (0)1392 477 509

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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