BIOPHARMA CREDIT PLC

Net Asset Value • May 10, 2024

National Storage Mechanism | Additional information

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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