BioPharma Credit PLC

13 February 2024

BIOPHARMA CREDIT PLC

(THE "COMPANY")

STATEMENT RE ImmunoGen, Inc.

Pharmakon Advisors, LP, the investment manager of the Company, notes the announcement released 12 February 2024 by AbbVie Inc. ("AbbVie") regarding the completion of its acquisition of ImmunoGen, Inc. ("IMGN") (such acquisition, the "Transaction"). AbbVie and IMGN had previously announced the entering into of a definitive agreement regarding the Transaction on Thursday 30 November 2023.

The Company announced on 11 April 2023 an investment in a senior secured loan to IMGN of up to US$62.5 million in up to two tranches. The Company had previously funded the first tranche representing a US$37.5 million investment, which was prepaid upon the closing of the Transaction. The Company received US$50.6 million in total, including $13.1 million of accrued interest, additional consideration, and prepayment and make-whole fees.

Enquiries:

BioPharma Credit plc

via Link Company Matters Limited

Company Secretary

+44 (0)1392 477 509