New investments from BioPharma Credit – BioPharma Credit (BPCR) has announced that it has entered into two separate loan agreements to invest US$52.5m now and up to an additional US$32.5m over the next twelve months.
Epizyme – epigenetic therapies
On 4 November 2019, BPCR entered into a definitive senior secured term loan agreement for up to US$70m with Epizyme, a late-stage biopharmaceutical company developing novel epigenetic therapies with a current market capitalisation of approximately US$1.4bn.
BPCR says this investment was made alongside BioPharma Credit Investments V LP, a private fund also investing in life sciences debt. BPCR’s share of the transaction will be up to US$35m (50 per cent. of the overall financing). In addition, the loan facility is expandable by up to US$300m, subject to mutual agreement between BPCR and Epizyme.
Akebia – therapeutics for people living with kidney disease
On 11 November 2019, BPCR entered into a definitive senior secured term loan agreement for up to US$100m with Akebia, a fully integrated biopharmaceutical company focused on the development and commercialisation of therapeutics for people living with kidney disease with a current market capitalisation of approximately US$460m. This investment was also made alongside BioPharma-V. BPCR’s share of the transaction will be up to US$50m (50 per cent. of the overall financing) and the company will initially invest US$40m
BPCR: New investments from BioPharma Credit