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First UK Debt Financing Fund For Life Sciences Raises $762m

 
• By John Davis

The first life sciences-focused specialized investment fund, BioPharma Credit, has completed an IPO in London, lifting the spirits of the investment community pondering the long-term consequences of the country withdrawing from the EU.

IPO lightbulb

A specialized investment fund, BioPharma Credit, started trading on the London Stock Exchange on March 30, following a substantial initial public offering (IPO) that raised double its initial target and answering those calling for the UK to build up its financial “ecosystem” for life science companies.

BioPharma Credit is the first fund specializing in debt financing for the life sciences industry to be listed on the LSE, and its IPO raised gross proceeds of

In a week characterized by the UK starting the process of Brexit and withdrawing from the EU, the IPO and stock exchange listing was said by the LSE to “highlight the global investor interest

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The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
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Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.