TIDMBPCR

RNS Number : 3034J

BioPharma Credit PLC

04 December 2018

4 December 2018

BIOPHARMA CREDIT PLC

(THE "COMPANY")

STATEMENT RE TESARO

Pharmakon Advisors, the Investment Manager of BioPharma Credit PLC (the "Company") notes the announcement released yesterday by GlaxoSmithKline plc ("GSK") regarding the definitive agreement pursuant to which GSK will acquire TESARO Inc ("TESARO"). The Company's largest investment is a two-tranche $322 million loan to TESARO, which includes a prepayment fee structure of a premium of 3 per cent., 2 per cent., or 1 per cent. if the loan is prepaid before the second, third, or fourth anniversaries of the relevant closing date respectively plus, if the prepayment is made before the second anniversary, a make whole amount equal to the interest payable between the prepayment date and the second anniversary of the relevant closing date. Pharmakon will continue to monitor the situation and update shareholders as appropriate.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

STREAFADEFSPFAF

(END) Dow Jones Newswires

December 04, 2018 02:01 ET (07:01 GMT)

Biopharma Credit (LSE:BPCR)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Biopharma Credit Charts.
Biopharma Credit (LSE:BPCR)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Biopharma Credit Charts.