BIOTECH ACQUISITION CO : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On October 4, 2022, Biotech Acquisition Company, a Cayman Islands exempted company (the "Company") issued an unsecured promissory note (the "Sponsor Note") in the principal amount of $250,000 to Biotech Sponsor LLC, a Delaware limited liability company. The Sponsor Note bears no interest.

The principal balance of the Sponsor Note shall be due and payable in accordance with its terms on or before September 30, 2023 (subject to the waiver against trust limitations).

A copy of the Sponsor Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure set forth in this 1.01 is intended to be a summary only and is qualified in its entirety by reference to the Sponsor Note.

On October 4, 2022, the Company issued a promissory note (the "Cryfield Note") in the principal amount of $500,000, with optional additional advances of up to $250,000, to Cryfield Investments, Ltd., a United Kingdom company. The Cryfield Note bears no interest.

Two Hundred Percent (200%) of the principal balance of the Cryfield Note shall be due and payable in accordance with its terms on or before September 30, 2023 (subject to the waiver against trust limitations).

A copy of the Cryfield Note is attached as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure set forth in this 1.01 is intended to be a summary only and is qualified in its entirety by reference to the Cryfield Note.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The disclosure contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.




Exhibit
Number     Description
10.1         Promissory Note of the Company to Biotech Sponsor LLC dated October
           4, 2022
10.2         Promissory Note of the Company to Cryfield Investments, Ltd. dated
           October 4, 2022




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