BioPharma Credit PLC STATEMENT RE COHERUS BIOSCIENCES, INC.
May 10 2024 - 10:11AM
RNS Regulatory News
RNS Number : 0397O
BioPharma Credit PLC
10 May 2024
BioPharma Credit PLC
10 May 2024
BIOPHARMA
CREDIT PLC
(THE
"COMPANY")
STATEMENT
RE Coherus BIOSCIENCES, Inc.
Pharmakon Advisors, LP, the
investment manager of the Company, notes the
announcement released 9 May 2024 by Coherus Biosciences, Inc.
("Coherus") regarding entering into a combined term loan and
product royalty financing agreement with Barings (the "New
Financing"). The New Financing allowed Coherus to fully pay off its
remaining USD$75 million senior secured term loan, of which the
Company had an investment of USD$37.5 million.
The Company had previously announced
on 10 January 2022 an investment in a senior secured loan to
Coherus of up to USD$150 million in up to three tranches. The
Company had previously funded US$125 million, of which USD$87.5
million was repaid as referenced in the Company's announcement on 6
February 2024. The remaining USD$37.5 million was repaid to the
Company in connection with the New Financing. In connection with
this final repayment, the Company received US$39.8 million in
total, including USD$2.3 million of accrued interest, and
prepayment and make-whole fees.
Enquiries:
BioPharma Credit plc
via Link Company Matters
Limited
Company Secretary
+44 (0)1392 477 509
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