In QuotedData’s morning briefing 3 April 2025:
- BioPharma Credit (BPCR) says it has received $8.25m as its share of a settlement payment from Biogen Inc. This relates to a dispute about fees related to a loan agreement between the company and Reata Pharmaceuticals. Biogen bought Reata in September 2023. In April 2024, the company and a private fund managed by Pharmakon Advisors LP filed a lawsuit in New York courts against Biogen and Reata with respect to a dispute about fees payable under the terms of the loan agreement. The settlement agreement represents the final resolution of this dispute. Assuming approximately $1.25m in legal and other related expenses payable by the company, this translates into an additional net US$7m in revenue from this settlement payment.
- Nippon Active Value (NAVF) says its adviser Rising Sun Management (‘RSM’) has written to the board of Fuji Media Holdings and Fuji Television to give an initial reaction to the release of a Third-Party Committee’s investigation report published on 31st March 2025. You can read the letter here.
- abrdn UK Smaller Companies Growth (AUSC) has cut its management fee. With effect from 1 April 2025, the management fee will continue to be charged on a tiered basis, but at reduced rates of 0.60% per annum on the first £200m of NAV and 0.55% on NAV above this figure. Prior to 1 April 2025, the fee was charged at a rate of 0.75% per annum of the NAV up to £175m, 0.65% above £175m and below £550m, and 0.55% above £550m.
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