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BioPharma Credit (BPCR)

Business description

BioPharma Credit was incorporated in October 2016 in the UK and aims at generating predictable income for shareholders over the long term through a diversified portfolio of loans and other instruments backed by royalties or other cash flows derived from sales of approved life sciences products. This includes senior secured notes, royalty debt instruments and priority royalty tranches. BPCR may also invest in unsecured debt (up to 35% of gross assets) as well as credit-linked notes. It can also have an equity exposure of up to 15% of gross assets.

Stock data

Market cap.US$950.8m
Last closeUS$1.04
High / Low (52 weeks)US$1.1 / US$1.0
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Latest research

Investment summary

BioPharma Credit (BPCR) offers investors access to a diverse portfolio of secured debt instruments for life science companies based on BPCR’s pool of investment opportunities. The ongoing specialisation and fragmentation of the drug discovery process is translating into an increased number of market players seeking additional funding backed by sales from approved products and/or royalty streams from out-licensed products. During its IPO in March 2017 and follow-on placings, the trust has so far raised gross proceeds of US$1,080m (of which US$339m is in seed assets) and already deployed US$690m in four large deals. It also has outstanding potential commitments of up to US$350m.

Last updated on 17/05/2018

Key management

Alexander Perfall, VP, Investor Relations & Public Affairs

Company address

Beaufort House
51 New North Road
Exeter
EX4 4EP
United Kingdom
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