BioPharma Credit PLC USD · LSE:BPCP
BioPharma Credit PLC USD — BioPharma Credit — Investor Presentation (March 2019)
9 slides from BioPharma Credit PLC USD's investor presentation, March 2019
Slide 1: Debt Capital for the Life Sciences Industry
Debt Capital for the Life Sciences Industry COMPANY PRESENTATION – March 2019 For additional information please email: [email protected] or visit BioPharma Credit’s website at www.bpcruk.com
Slide 2: Disclaimer
Disclaimer . THIS PRESENTATION IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION. THIS PRESENTATION IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDIC
Slide 3: Disclaimer
Disclaimer This presentation was prepared using the financial information available to the Company as at the date of this presentation. Except where otherwise indicated herein, the information provided in this presentation is based on matters as they exist as of the date of preparation and not as of
Slide 4: Financial Highlights
Financial Highlights Ordinary Shares Assets as at 31 December 2018 as at 31 December 2018 Share price Nel assets $1.0650 $1,380.0m (31 December 2017: $1.0470) (31 end 2017: $922.6m) NAY per Share Leverage $1.0044 0% (31 December 2017: $1.0091) (31 December 2017: 0%) Premium to NAV per Share Target d
Slide 5: Major milestones since IPO
Major milestones since IPO1 Total Raised for BPCR2 IPO – $762m gross Placing of Ordinary Issue of C-Shares Placing of Ordinary ~$1,385m gross proceeds including Shares – $154m – $163m gross Shares – $305m proceeds $339m of seed gross proceeds proceeds gross proceeds assets ($1,045m in cash) March 20
Slide 6: Portfolio and Dividend history
Portfolio and Dividend history2 Evolution of the BioPharma Credit portfolio (millions) BPCR Portfolio Composition ($m) $1,600 • ~ $339m or 100% of seed assets $1,400 $150 (RPS + BP-III) have amortized $150 $64 since IPO $1,200 $64 Cash $183 RPS • ~$813m deployed across five new $189 $1,000 BioPharma
Slide 7: BioPharma Credit realized a gain of $83.3 million in the Tesaro transaction
BioPharma Credit realized a gain of $83.3 million in the Tesaro transaction resulting in a 28.8% IRR Timeline 6 December 2017 BPCR funds $222.0m of the $300.0m Tranche A by investing $217.6m net of the 2.0% upfront fee 28 June 2018 BPCR funds $100.0m of the $200.0m Tranche B by investing $98.0m net
Slide 8: Summary of Assets
Summary of Assets Post-IPO Investments Seed Assets ROYALTY PHARMA Pharmakon Advisors, LP aA . . Investment (RPS) (BioPhama Ill) WIESARO — Baio hers Squid Secured Loan Secured Loan Priority Royalty Stream RPS Biopharma ; Investments LP Tesaro, Inc. NIA $185 $154 Tranche A: $222mm $140 - 160mm? mm mm
Slide 9: Investment Opportunity – Summary
Investment Opportunity – Summary The Life Sciences Debt Market is an Underserved, Large and Growing Opportunity Worldwide $1.1tn industry growing at 6% per annum Large capital needs, private companies spent $190bn in R&D during 2014 Industry dynamics create new debt investment opportunities
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