Edison Investment Research - Biopharma Credit (A2DN3S) BioPharma Credit - New transaction of up to US$50m

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Edison Investment Research

Pedro Fonseca

BioPharma Credit - New transaction of up to US$50m

BioPharma Credit (BPCR) has entered into a new senior secured loan agreement for up to US$50m to be provided to UroGen Pharma, a Nasdaq-listed biotech company focused on the treatment of urothelial and speciality cancers. BPCR and BioPharma fund V will each invest US$37.5m in the first tranche and up to a further US$12.5m available to be drawn by end-2022. Following the transaction, BPCR is fully invested and would require additional external capital for new investments (by a further drawdown of its credit facility or a new share issue).

16/03/2022 1 EN

Underlying

Biopharma Credit

BioPharma Credit is a closed-ended investment company. Co.'s investment objective is to generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. Co. may acquire debt assets from a company operating in the life sciences; or an entity other than a life sciences industry which directly or indirectly holds an interest in royalty rights to certain products, including any investment vehicle or special purpose vehicle; or in the secondary market.

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GB00BDGKMY29 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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BioPharma Credit - New transaction of up to US$50m

BioPharma Credit: 1 director

BioPharma Credit - A quality dividend play with FY22 yield of 12%

Datatec - FY24 underlying EPS more than doubles y-o-y

Pan American Silver - La Arena divestment

SenSen Networks - Time to scale

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