Question 1

What facility did BioPharma Credit agree to provide to Idorsia Pharmaceuticals?

Accepted Answer

BioPharma Credit agreed via a wholly owned subsidiary to provide up to CHF75.0m in a senior secured loan facility to Idorsia Pharmaceuticals, with a parallel CHF175.0m commitment from BioPharma Credit Investments V (Master) LP. The facility matures June 2031.

Question 2

What interest rate and fees apply to the CHF loans in the Idorsia facility?

Accepted Answer

For the Idorsia facility, CHF loans bear a fixed 7.00% p.a. rate and Idorsia pays a one-time 1.50% fee on each tranche at funding. Prepayment/make-whole/exit fees also apply.

Question 3

What did BioPharma Credit complete on 14 August 2026?

Accepted Answer

BioPharma Credit completed the sale of its indirect interest in Lumira SAS (Colombia), a move that concluded its $419 million investment in the LumiraDx group started in March 2021.

Question 4

How much principal did BioPharma Credit recover from the Lumira Colombia sale and related proceeds?

Accepted Answer

From the Lumira Colombia sale, the July 2024 sale of LumiraDx’s point-of-care diagnostics platform to Roche Diagnostics, and cash interest, BioPharma Credit recovered approximately 101% of principal on both a gross and net basis.

Question 5

What business does BioPharma Credit conduct with biopharma companies?

Accepted Answer

BioPharma Credit originates, underwrites and holds senior secured and other credit instruments to biopharma companies, earning revenue from interest, upfront/exit fees and related credit charges.

Question 6

How much was BioPharma Credit committed for the senior secured loan to Idorsia Pharmaceuticals?

Accepted Answer

BioPharma Credit arranged a senior secured loan to Idorsia Pharmaceuticals, Switzerland, with an up-to CHF75 million commitment through a fully owned subsidiary, split into Tranche A CHF45m, Tranche B CHF15m, and Tranche C CHF15m.

Timeline

Biopharma Credit

BioPharma Credit closes Lumira sale, recovers 101% of stake

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