IN BRIEF: BioPharma Credit receives funds from loan prepayment

BioPharma Credit PLC - London-based closed-ended investment company focused on life sciences industry - Notes Collegium Pharmaceutical Inc's repayment in full of a USD645.8 million senior secured term loan, in which BioPharma Credit had invested USD290.4 million in July 2024. It receives prepayment proceeds of USD261.4 million of principal with USD2.6 million of prepayment fees and USD5.3 million of accrued interest. BioPharma Credit says its cash balance is now around USD405 million.

"We are grateful for Collegium's partnership and proud to have served as a trusted financing source over the past six years. While this early repayment will result in a higher-than-usual cash balance, we are encouraged by the strength of the broader pipeline and look forward to further diversifying the portfolio," says Pedro Gonzalez de Cosio of the investment management Pharmakon Advisors LP.

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By Michael Hennessey, Alliance News reporter

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