Lexicon Pharmaceuticals’ $200 Million Loan Agreement


Akin Gump Advises BioPharma Credit Investment Funds on the deal

Lexicon Pharmaceuticals, Inc. has announced that it has entered into a definitive term loan agreement with BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP, investment funds managed by Pharmakon Advisors, LP. The agreement provides Lexicon with up to $200 million of borrowing capacity available in two tranches, each maturing in December 2022 and bearing interest at 9.0 percent per annum. Akin Gump advised BioPharma Credit PLC and BioPharma Credit Investments IV Sub LP in the matter.

Akin Gump partner Geoffrey Secol (Picture) led the team advising the two funds managed by Pharmakon. He was joined by senior counsel Miriam Foley, associate Amanda Lui and partner Ron Grabov-Nardini.

Involved fees earner: Geoffrey Edward Secol – Akin Gump; Amanda Lui – Akin Gump; Miriam Foley – Akin Gump; Ron Nardini – Akin Gump;

Law Firms: Akin Gump;

Clients: BioPharma Credit Investment Funds;

Avatar

Author: Ambrogio Visconti