BioPharma Credit says liquidity covenant in loan deal waived

BioPharma Credit PLC is a United Kingdom-based closed-ended investment company. The principal activity of the Company is to invest in interest-bearing debt assets with a contractual right to future cash flows derived from royalties or sales of approved life sciences products. The Company's investment objective is to generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks to achieve its investment objective predominantly through direct or indirect exposure to debt assets, which include royalty investments, senior secured debt, unsecured debt and credit linked notes. Its diversified portfolio is primarily secured by cash flows derived from sales of approved life sciences products. The Company holds a majority of its investments through its financing subsidiary, BPCR Limited Partnership. Its investment manager is Pharmakon Advisors L.P.