4 December 2018
BIOPHARMA CREDIT PLC
(THE "COMPANY")
STATEMENT RE TESARO
Pharmakon Advisors, the Investment Manager of BioPharma Credit PLC (the "Company") notes the announcement released yesterday by GlaxoSmithKline plc ("GSK") regarding the definitive agreement pursuant to which GSK will acquire TESARO Inc ("TESARO"). The Company's largest investment is a two-tranche $322 million loan to TESARO, which includes a prepayment fee structure of a premium of 3 per cent., 2 per cent., or 1 per cent. if the loan is prepaid before the second, third, or fourth anniversaries of the relevant closing date respectively plus, if the prepayment is made before the second anniversary, a make whole amount equal to the interest payable between the prepayment date and the second anniversary of the relevant closing date. Pharmakon will continue to monitor the situation and update shareholders as appropriate.
Enquiries
BioPharma Credit plc
via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 509
Buchanan
+44 (0)20 7466 5000 / [email protected]
David Rydell
Mark Court
Jamie Hooper
Henry Wilson
Notes to Editors:
BioPharma Credit PLC is London's only listed specialist investor in debt from the life sciences industry and joined the LSE on 27 March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company 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.
LEI: 213800AV55PYXAS7SY24
