BioPharma Credit PLC - NEW INVESTMENT OF US$30 MILLION

7 October 2025

BIOPHARMA CREDIT PLC

(THE "COMPANY") 

NEW INVESTMENT OF US$30 MILLION

BioPharma Credit PLC (LSE: BPCR), the specialist life sciences debt investment trust, is pleased to announce that it, through its fully owned subsidiary, together with BioPharma Credit Investments V (Master) LP ("BioPharma-V" and jointly with the Company, the "Lenders") has entered into a senior secured loan agreement with Valneva Austria GmbH, a subsidiary of Valneva SE ("Valneva"). The initial tranche is expected to be funded in the coming weeks, with the Company investing US$30 million, BioPharma-V investing an additional US$185 million in parallel, and the Company acting as collateral agent. Further tranches of up to US$285 million for potential business development are subject to mutual agreement by the parties with loan allocations to be determined at such time.

Based in Saint-Herblain, France, Valneva is a specialty vaccine company with a current market capitalization of approximately US$1 billion that develops, manufactures, and commercializes prophylactic vaccines for infectious diseases addressing unmet medical needs. Valneva currently markets prophylactic vaccines IXIARO (Japanese Encephalitis), DUKORAL (Cholera) and IXCHIQ (Chikungunya).

The loan will mature in October 2030 and will bear interest at 9.00 per cent. per annum.

Pedro Gonzalez de Cosio, CEO of Pharmakon Advisors, LP, the Company's investment adviser said:

"We are proud to continue our partnership with Valneva. This transaction marks the third investment in Valneva made by entities managed by Pharmakon Advisors. BioPharma III invested US$30 million in 2013, and an additional US$11 million in 2015. This transaction reflects our great confidence in Valneva's products, strategy, management team, and execution capabilities. At Pharmakon, we remain committed to supporting high-quality life sciences companies with tailored capital solutions."

Enquiries

Burson Buchanan

Mark Court / Jamie Hooper / Henry Wilson / Nick Croysdill

+44 (0) 20 7466 5000

biopharmacredit@buchanan.uk.com

Notes to Editors

BioPharma Credit PLC is London's only specialist debt investor to the life sciences industry and joined the LSE in March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks to achieve this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.