IN BRIEF: BioPharma Credit to be repaid following disposal by BioCryst

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BioPharma Credit PLC - London-based closed-ended investment company focused on the life sciences industry - Investment Manager Pharmakon Advisors LP notes that BioCryst Pharmaceuticals Inc has agreed to sell its European Orladeyo, or berotralsat, business to Neopharmed Gentili for up to $264 million. Orladeyo is a treatment to prevent attacks of hereditary angioedema in adults and children 12 years of age and older. BioCryst expects to complete the disposal by early October, and intends to use the proceeds to repay its remaining $248.7 million term debt. This includes the repayment of $99.5 million owed to BioPharma. Under the terms of its senior secured loan deal with BioCryst, which was initially agreed in April 2023, BioPharma expects to receive a prepayment premium of 3% to the principal repaid.

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