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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
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