Biopharma Cred. Regulatory News (BPCR)

BIOPHARMA CREDIT PLC

(THE "COMPANY")

UPDATE ON NEW INVESTMENT

BioPharma Credit PLC (LSE: BPCR) would like to provide additional information on the investment which was disclosed earlier today 20 September 2018. BPCR is pleased to announce that it entered into a definitive loan agreement for US$150 million with Amicus Therapeutics, Inc., a rare metabolic disease-focused biopharmaceutical company (NASDAQ: FOLD, "AMICUS").

Under the terms of the transaction, the Company will invest US$150 million in a senior secured loan that has a term of five years, 2 per cent. additional consideration and bears interest at LIBOR plus 7.5% subject to a floor of 1% and certain caps. The loan is interest only for the first four years, amortises over the remaining term, and can be prepaid at AMICUS' discretion, at any time, subject to prepayment fees. The loan is expected to close and be funded within 6 business days.

The funding will be completed from the assets attributable to the C Shares of the Company only. Following this investment, the C Shares will be 100 per cent. invested and therefore eligible for conversion into ordinary shares, as outlined in the Prospectus published on 14 March 2018. Further details regarding conversion will be announced in due course after funding has completed.

AMICUS has commercial operations in the United States, Europe, Japan and several other geographies in which it currently markets GALAFOLD® (migalastat HCl). AMICUS intends to use the proceeds of the financing for business development and general corporate purposes, including supporting ongoing commercial operations for the launch of GALAFOLD® for Fabry disease, furthering the progress of its clinical program in Pompe disease, and bolstering its pipeline. AMICUS has US$553 million of cash and liquid investments as of 30 June 2018 and guided to 2018 GALAFOLD® revenue of US$80 million to US$90 million.

"We are pleased to partner with AMICUS in this transaction," said Pedro Gonzalez de Cosio, CEO of Pharmakon Advisors, LP. "Led by an excellent management team, we believe that AMICUS is well on its way to making a difference in the lives of patients with Fabry Disease and has an exciting clinical development program that will one day offer patients with rare metabolic disorders new life changing therapies. This exciting transaction further demonstrates the exciting range of opportunities available to us and continues to diversify our portfolio."

Link Company Matters Limited

Company Secretary

20 September 2018

Enquiries:

Buchanan

David Rydell / Mark Court/ Jamie Hooper/ Henry Wilson

+44 (0)20 7466 5000

Biopharmacredit@buchanan.uk.com

Notes to Editors:

BioPharma Credit PLC is London's only listed specialist investor in debt from the life sciences industry and joined the LSE on 27 March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.