Akin Gump Strauss Hauer & Feld LLP advised BioPharma Credit PLC on the deal, while Dechert LLP advised Pharmakon Advisors LP.
LumiraDx has secured new financing commitments totaling $400 million, with $300 million of the financing to come from BioPharma Credit PLC and its subsidiaries. In addition, Capital One, National Association has provided a commitment letter for up to $100 million on an asset-based revolving credit facility.
LumiraDx Investment Limited is a UK-based diagnostics technology company. Pharmakon Advisors LP is the life sciences investment manager of BioPharma Credit PLC. BioPharma Credit plc provides investors with an opportunity to gain exposure to the fast growing life sciences industry, through a diversified portfolio of loans and other instruments backed by royalties or other cash flows derived from sales of approved life sciences products.
The Akin Gump team advising BioPharma Credit and its subsidiaries was led by tax partner Geoffrey Secol (Picture). He was joined by corporate partners Mark Mansell and Shar Ahmed and associates Chloe Abbott and Shane Copelin; tax associate Mohammed Natha; health care and life sciences senior counsel Jo-Ellyn Sakowitz Klein and counsel Marlee Gallant; and international trade partner Nnedinma Ifudu Nweke.
Dechert LLP advised Pharmakon Advisors LP with a team led by Carl A. Morales, Ph.D. and included partners Tom Rayski and Diane Siegel Danoff, associate Blaine Hackman, Ph.D. and patent agent Todd Macklin, Ph.D.
Involved fees earner: Chloe Abbott – Akin Gump; Shar Ahmed – Akin Gump; Shane Copelin – Akin Gump; Marlee Gallant – Akin Gump; Nnedinma Ifudu Nweke – Akin Gump; Mark Mansell – Akin Gump; Mohammed Natha – Akin Gump; Jo-Ellyn Sakowitz Klein – Akin Gump; Geoffrey Edward Secol – Akin Gump; Blaine Hackman – Dechert; Todd Macklin – Dechert; Carl Morales – Dechert; Thomas Rayski – Dechert; Diane Siegel Danoff – Dechert;