$LumiraDx (LMDXF.US)$ BioPharma Credit (BPCR.L) committed to...

$LumiraDx (LMDXF.US)$ BioPharma Credit (BPCR.L) committed to providing up to $10 million in additional funding to LumiraDx amid the extension in the latter's sale of businesses to Swiss pharmaceutical and diagnostics company Roche (RO.SW, ROG.SW).

The specialist debt investor said all of LumiraDx's senior secured lenders agreed to provide up to $20 million in additional funding in total to cover the borrower's operations for July and August. It noted that Roche agreed to reimburse up to 70% of the additional funding, with a cap of $7 million for each month.

Roche's acquisition of certain assets of the diagnostics company is still under regulatory review. The long-stop date for the transaction was pushed back to Aug. 31.