22 August 2022
BIOPHARMA CREDIT PLC
STATEMENT RE EPIZYME
Pharmakon Advisors, the Investment Manager of BioPharma Credit plc (the "Company") notes the announcement released on Friday 13 August 2022 by Ipsen ("IPN") regarding the completion of its acquisition of Epizyme Inc ("Epizyme") (the "Transaction"). The Company had a US$110 million investment in a senior secured loan to Epizyme which was prepaid upon the closing of the Transaction. The loan was made in four different tranches and each tranche had different prepayment economics. The Company received US$119 million including US$9 million in prepayment and make-whole fees realizing an IRR of 15.2 per cent.
BioPharma Credit plc
via Link Company Matters Limited
+44 (0)1392 477 500
David Rydell / Mark Court / Jamie Hooper / Henry Wilson
+44 (0)20 7466 5000
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.