BioPharma Credit PLC on Wednesday said it has received a $8.3 million settlement payment from Biogen Inc as the final resolution of a loan dispute.

The London-based investment company, focused on the life sciences sector, said it expects net $7.0 million revenue from the payment, assuming $1.3 million in legal and other expenses.

BioPharma said the payment represents its portion of the $16.5 million settlement agreement with Biogen.

In May 2023, BioPharma entered a loan agreement alongside private fund Pharmakon Advisors LP with Reata Pharmaceuticals Inc, which was subseuqently bought by Biogen.

In April 2024, BioPharma and Pharmakon filed a lawsuit in New York against Biogen and Reata relating to a dispute about fees payable under the agreement.

BioPharma Credit shares were flat at 89 US cents on Wednesday afternoon in London. Shares in Biogen were up 0.3% at $132.34 in New York.

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