REG - BioPharma Credit PLC - STATEMENT RE COHERUS BIOSCIENCES, INC.

Biopharma CreditAnnouncement

10/05/2024 15:15

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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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