London Stock Exchange welcomes BioPharma Credit plc to the Premium Segment of the Main Market

BioPharma Credit, the specialist life sciences debt investor, today announces that its London listing has moved from the Specialist Fund Segment to the Premium Segment of the Main Market of London Stock Exchange. The Company’s objective in joining the Main Market is to raise the Company’s global profile, extend its potential shareholder base, and enable further scaling and a greater cadence of investment.

The move takes place just four years after BioPharma Credit first listed its shares on the Specialist Fund Segment. The Company raised US$761 million in its 30 March 2017 IPO and an additional US$624 million in three subsequent secondary offerings. Since its IPO, the Company has invested US$2,413 million in new loans to life science companies using proceeds from capital raises as well as principal repayments from loans.

BioPharma Credit’s primary objective is to generate long-term shareholder returns, predominantly in the form of sustainable income distributions from debt assets secured by approved life science products, targeting a 7 cent dividend per share per annum (approximately 7 per cent. of NAV) once substantially invested.  The Company met this target in the quarter ended 30 June 2018 and has consistently paid an annualized dividend of 7 cents per share per annum plus an incremental special dividend at the end of every year since then.  In total, BioPharma Credit has paid US$370 million in dividends to date.

Since IPO the Company has made 16 investments secured by a wide range of life sciences products that treat a number of serious diseases such as multiple cancers including those affecting the ovaries, brain, prostate and lymphomas, as well as rare orphan diseases such as sickle cell anemia, muscular dystrophy and Fabry disease.  While the loans made by the Company are backed by approved products, a common use of proceeds for these loans is to help fund important research and development of innovative new drugs and treatments.

Quick facts

Market: Main Market
Instrument market cap (£m)
Listing/Admission to trading
27 Mar 2017

Pedro Gonzalez de Cosio, Co-Founder and CEO of Pharmakon Advisors, the Company’s investment manager, commented:

“At the time of IPO, the Company and its investment strategy were new to the UK investor market. We are grateful to those investors who supported us early on and are proud of having delivered on our stated targets, including the payment of a consistent dividend.  With a successful four year track record as a public company, we believe it is time to further broaden the Company’s investor base through moving to the Premium Segment of the Main Market and look forward to continuing to deliver for all investors.”

Looking for new and recent issues?

More recent

London Stock Exchange welcomes Tungsten West to AIM

Tungsten West Plc (“Tungsten West” or “the Company”) is a UK based company focussed on recommencing production at the Hemerdon tungsten and tin mine (“Hemerdon” or the “Project”) in Devon, England.

The Hemerdon mine is the world’s third largest Tungsten resource, had over £170m spent on it via the previous operator and has a mine life of 18.5 years. The Company is focused on rebuildin

Learn more
London Stock Exchange welcomes the Republic of Korea’s Sovereign Green Bond to the Sustainable Bond Market

London Stock Exchange today welcomes the Republic of Korea issuing their €700mn -0.053% note due October 2026 to London Stock Exchange’s International Securities Market. The deal was more than 6 times oversubscribed, receiving bids in excess of €4.2bn from over 150 accounts.

The €700mn 5-year tranche is Korea’s debut green bond and it was admitted yesterday to our Sustainable Bond Mar

Learn more
London Stock Exchange Group welcomes TPI Global Climate Transition Centre

The Transition Pathway Initiative (TPI) assesses companies’ progress on the transition to a low‐carbon economy. Led by asset owners, the global initiative is backed by an investor network with $40tn of assets under management or advisement.

The market opening at the London Stock Exchange is being held to mark the announcement of the TPI Global Transition Centre, which will provide fre

Learn more
London Stock Exchange welcomes Castelnau Group Limited to the Specialist Fund Segment to the Main Market

The London Stock Exchange today welcomes Castelnau Group Limited (‘Castelnau’), an investment company established to invest in public and private companies with the aim of outperforming the FTSE All Share Total Return Index over the long term.  The ordinary shares of Castlenau will be listed on the Specialist Fund Segment of the Main Market.</

Learn more