STATEMENT RE GLOBAL BLOOD THERAPEUTICS
Source: RNS
BioPharma Credit PLC
9 August 2022
BIOPHARMA CREDIT PLC
(THE "COMPANY")
STATEMENT RE GLOBAL BLOOD THERAPEUTICS
Pharmakon Advisors, the Investment Manager of BioPharma Credit PLC (the "Company") notes the announcement released yesterday by Pfizer Inc. ("Pfizer") regarding the definitive agreement pursuant to which Pfizer will acquire Global Blood Therapeutics Inc. ("GBT") (the "Transaction").
The Company has a US$132.5 million investment in a senior secured loan to GBT which would be prepaid upon the closing of the Transaction. The loan was invested in three different tranches with each tranche subject to different prepayment economics. Assuming the prepayment occurs on 1 October 2022, the Company would be expected to receive approximately US$38 million in paydown, prepayment and make-whole fees.
Enquiries:
BioPharma Credit plc
via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 509
Buchanan
+44 (0)20 7466 5000 / biopharmacredit@buchanan.uk.com
David Rydell
Mark Court
Jamie Hooper
Henry Wilson
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 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.
LEI: 213800AV55PYXAS7SY24
END
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