REG - BioPharma Credit PLC - NEW INVESTMENT OF UP TO US$62.5 MILLION

Biopharma CreditAnnouncement

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RNS Number : 8662X  BioPharma Credit PLC  03 September 2025

3 September 2025

 

BIOPHARMA CREDIT PLC

(THE "COMPANY")

NEW INVESTMENT OF UP TO US$62.5 MILLION

 

BioPharma Credit PLC (LSE: BPCR), the specialist life sciences debt
investment trust, is pleased to announce that it, through its fully owned
subsidiary, together with BioPharma Credit Investments V (Master)
LP ("BioPharma-V" and jointly with the Company, the "Lenders") has entered
into a senior secured loan agreement with Precigen, Inc. ("Precigen") (the
"Loan Agreement"). The Company will invest up to US$62.5 million and
BioPharma-V will invest up to an additional US$62.5 million in parallel, with
the Company acting as collateral agent.

Based in the US, Precigen is a commercial-stage biopharmaceutical company with
a current market capitalization of approximately US$1.4 billion specializing
in the advancement of innovative precision medicines to address
difficult-to-treat diseases with high unmet patient need. Approved on 15
August, 2025 Precigen's PAPZIMEOS (zopapogene imadenovec-drba) is the first
and only approved therapy for the treatment of adults with recurrent
respiratory papillomatosis, a rare, debilitating, and potentially
life-threatening disease caused by chronic HPV 6 or HPV 11 infection, which
results in recurrent benign tumors in the respiratory tract.

Under the terms of the transaction, the Company will invest up to US$62.5
million across two tranches:

·      Tranche A of US$50 million was drawn on 3 September 2025; and

·      Tranche B of US$12.5 million is available to be drawn by 29 June
2027, subject to customary conditions precedent set forth in the Loan
Agreement.

The loan will mature in September 2030 and will bear interest at 3-month SOFR
plus 6.50 per cent. per annum subject to a 3.75 per cent. SOFR floor.

Pedro Gonzalez de Cosio, CEO of Pharmakon Advisors, LP, the Company's
investment adviser said:

"The Precigen team is working towards a robust US commercialization of
PAPZIMEOS, a groundbreaking novel immunotherapy and we look forward to
supporting the company and management team as they expand to international
markets and pursue pediatric and additional HPV-related indications."

 

Enquiries

Burson Buchanan

Mark Court / Jamie Hooper / Henry Wilson / Nick Croysdill

+44 (0) 20 7466 5000

biopharmacredit@buchanan.uk.com (mailto:biopharmacredit@buchanan.uk.com)

Notes to Editors

BioPharma Credit PLC is London's only specialist debt investor to the life
sciences industry and joined the LSE in 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 to achieve this objective primarily through investments in debt assets
secured by royalties or other cash flows derived from the sales of approved
life sciences products.

 

 

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