3 September 2025

BIOPHARMA CREDIT PLC

(THE "COMPANY") 

NEW INVESTMENT OF UP TO US$62.5 MILLION

BioPharma Credit PLC (LSE: BPCR), the specialist life sciences debt investment trust, is pleased to announce that it, through its fully owned subsidiary, together with BioPharma Credit Investments V (Master) LP ("BioPharma-V" and jointly with the Company, the "Lenders") has entered into a senior secured loan agreement with Precigen, Inc. ("Precigen") (the "Loan Agreement"). The Company will invest up to US$62.5 million and BioPharma-V will invest up to an additional US$62.5 million in parallel, with the Company acting as collateral agent.

Based in the US, Precigen is a commercial-stage biopharmaceutical company with a current market capitalization of approximately US$1.4 billion specializing in the advancement of innovative precision medicines to address difficult-to-treat diseases with high unmet patient need. Approved on 15 August, 2025 Precigen's PAPZIMEOS (zopapogene imadenovec-drba) is the first and only approved therapy for the treatment of adults with recurrent respiratory papillomatosis, a rare, debilitating, and potentially life-threatening disease caused by chronic HPV 6 or HPV 11 infection, which results in recurrent benign tumors in the respiratory tract.

Under the terms of the transaction, the Company will invest up to US$62.5 million across two tranches:

·      Tranche A of US$50 million was drawn on 3 September 2025; and

·      Tranche B of US$12.5 million is available to be drawn by 29 June 2027, subject to customary conditions precedent set forth in the Loan Agreement.

The loan will mature in September 2030 and will bear interest at 3-month SOFR plus 6.50 per cent. per annum subject to a 3.75 per cent. SOFR floor.

Pedro Gonzalez de Cosio, CEO of Pharmakon Advisors, LP, the Company's investment adviser said:

"The Precigen team is working towards a robust US commercialization of PAPZIMEOS, a groundbreaking novel immunotherapy and we look forward to supporting the company and management team as they expand to international markets and pursue pediatric and additional HPV-related indications."

Enquiries

Burson Buchanan

Mark Court / Jamie Hooper / Henry Wilson / Nick Croysdill

+44 (0) 20 7466 5000

biopharmacredit@buchanan.uk.com

Notes to Editors

BioPharma Credit PLC is London's only specialist debt investor to the life sciences industry and joined the LSE in 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.