BioPharma Credit PLC UPDATE ON INVESTMENT
2024年7月1日 - 3:00PM
RNS Regulatory News
RNS Number : 4799U
BioPharma Credit PLC
01 July 2024
1 July 2024
BIOPHARMA
CREDIT PLC
UPDATE ON
INVESTMENT
BioPharma Credit PLC (LSE:
BPCR) (the "Company") makes reference to its announcements on (i) 2
January 2024 (the "Previous Announcement") regarding LumiraDx
Limited ("LumiraDx"), the appointment of the joint administrators
of two LumiraDx subsidiaries (the "Administrators"), and the
entering into by the Administrators of a sale and purchase
agreement (the "SPA") with Roche Diagnostics Limited ("Roche")
providing for Roche's acquisition of certain LumiraDx group
companies (the "Point of Care Diagnostics
Companies") and certain related assets (the "Transaction"); and
(ii) 28 May 2024 regarding the update on the UK CMA (Competition
and Markets Authority) website regarding the
Transaction.
LumiraDx has informed the Company
that the "Long-Stop Date" under the SPA to complete the Transaction
has been extended to 31 August 2024 (the "Extension"). In
connection with the Extension, the Senior Secured Lenders (as
referenced in the Previous Announcement) have agreed to provide up
to an additional US$20 million in funding, comprised of up to US$10
million as needed for each of July and August 2024, for the
LumiraDx group until the completion of the Transaction to support
the ongoing operations of LumiraDx's Point of Care Diagnostics
Companies (the "Additional Funding", and together with the
Extension, the "Amendments"). Under the terms of the Amendments,
Roche has further agreed to reimburse the Senior Secured Lenders
for up to 70% of the Additional Funding, with a cap of US$7 million
for each of July and August 2024. The Company has committed up to
US$10 million in connection with the Additional Funding.
The Transaction continues to undergo
the process to receive antitrust and regulatory reviews. At this
time, Pharmakon Advisors, LP cannot comment beyond what has been
made public by the CMA and the companies involved in the
transaction.
Pharmakon Advisors, LP is continuing
to actively monitor the situation and will provide any updates in
due course.
Enquiries
Burson Buchanan
David Rydell / Mark Court
/ Jamie Hooper / Henry Wilson
+44 (0) 20 7466 5000
biopharmacredit@buchanan.uk.com
Notes to Editors
BioPharma Credit
PLC is London's only specialist debt investor to the
life sciences industry and joined the LSE in March
2017. BioPharma Credit PLC seeks to provide long-term
shareholder returns, principally in the form of sustainable income
distributions from exposure to the life sciences
industry. BioPharma Credit PLC 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.
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END
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