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BioPharma Credit PLC - life sciences debt investment trust - Will invest up to $100 million into UroGen Pharma Inc via a senior secured loan.
UroGen is based in Israel and the US, and creates novel solutions which treat urothelial and specialty cancers.
Under the loan BioPharma Credit will increase up to $50 million, with $37.5 million in the first tranche and up to $12.5 million by the end of December 2022, while subsidiary BioPharma-V will invest $50 million as a parallel.
The loan will mature in March 2027, and will bear interest at three-month LIBOR plus 8.25% per annum.
Current stock price: $1.01
12-month change: up 5.2%
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