Akin Gump Advises Pharmakon Advisors in Providing Immunocore Limited with up to $100 Million of Senior Secured Financing
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Akin Gump advised Pharmakon Advisors, LP, a leading investor in non-dilutive debt for the life sciences industry, in its senior secured credit facility of up to $100 million to Immunocore Limited, a subsidiary of Immunocore Holdings plc.
Immunocore is a commercial-stage biotechnology company pioneering the development of a novel class of TCR bispecific immunotherapies called —Immune mobilizing monoclonal TCRs Against X disease (ImmTAX)—designed to treat a broad range of diseases, including cancer, autoimmune and infectious disease.
The initial $50 million drawn from the credit facility will be used to refinance the company’s existing debt with Oxford Finance, LLC on improved terms and the remaining $50 million, if and when drawn, is intended to be used to support the continued development and commercialization of the company’s pipeline and for other general purposes.
To learn more about the transaction, click here.
The Akin Gump team advising Pharmakon Advisors was led by tax partner Geoffrey Secol and included tax partner David Snyder, counsel Mohammed Natha and Ekaterina Lyashenko and associate Diandra Molina; health care and life sciences partner Nathan Brown, senior counsel Jo-Ellyn Sakowitz Klein and counsel Marlee Gallant; and international trade partner Nnedinma Ifudu Nweke.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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