Asia FX muted despite Fed cut bets; Japanese yen slides after PM Ishiba resigns
NEW YORK - Precigen, Inc., a commercial-stage biopharmaceutical company, has secured a senior secured loan agreement of up to $125 million with BioPharma Credit PLC (LSE:BPCR) and its partner, according to a press release statement issued Wednesday.
BioPharma Credit will provide up to $62.5 million of the financing through its wholly owned subsidiary, while BioPharma Credit Investments V (Master) LP will contribute the remaining $62.5 million. BioPharma Credit will serve as the collateral agent for the transaction.
The financing will be distributed in two tranches, with the first $50 million drawn on Wednesday and a second tranche of $12.5 million available until June 29, 2027, subject to certain conditions. The loan carries a five-year term, maturing in September 2030, with an interest rate of 3-month SOFR plus 6.50% per annum, subject to a 3.75% SOFR floor.
Precigen, which has a market capitalization of approximately $1.4 billion, recently received approval for PAPZIMEOS (zopapogene imadenovec-drba) on August 15, 2025. The therapy is described as the first approved treatment for adults with recurrent respiratory papillomatosis, a rare disease caused by chronic HPV 6 or HPV 11 infection that results in recurrent benign tumors in the respiratory tract.
BioPharma Credit PLC is a London-listed specialist debt investor focused on the life sciences industry. The company primarily invests in debt assets secured by royalties or cash flows from approved life sciences products, aiming to provide shareholders with sustainable income distributions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.