|
BioPharma Credit PLC - London-based closed-ended investment company focused on life sciences industry - Provides a senior secured loan to Valneva Austria GmbH, a subsidiary of Valneva SE. Initial tranche is expected to be funded in the coming weeks, with BioPharma investing $30 million and BioPharma Credit Investments V (Master) LP investing an additional $185 million in parallel, and BioPharma acting as collateral agent. ‘Further tranches of up to $285 million for potential business development are subject to mutual agreement by the parties with loan allocations to be determined at such time,’ BioPharma adds. The loan to Valneva will mature in October 2030 and bear an interest of 9.00% per year. ‘We are proud to continue our partnership with Valneva. This transaction marks the third investment in Valneva made by entities managed by Pharmakon Advisors. BioPharma III invested $30 million in 2013, and an additional $11 million in 2015. This transaction reflects our great confidence in Valneva’s products, strategy, management team, and execution capabilities. At Pharmakon, we remain committed to supporting high-quality life sciences companies with tailored capital solutions,’ says Pedro Gonzalez de Cosio, chief executive officer of Pharmakon Advisors, LP, which is Biopharma’s investment adviser. Current stock price: 91 US cents, down 1.4% on Tuesday morning in London 12-month change: up 3.1% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
