KPIs

We measure our performance against a number of financial and non-financial key performance indicators (KPIs) that are aligned to our strategic priorities.

We updated our KPIs during the year to reflect the business evolution and strategy, including our 10-year growth targets that we announced in FY2022/3.

NAV progression to £5bn by 2032

Rationale

We seek to deliver strong risk-adjusted returns to shareholders over the long term, with an ambition to organically grow net assets to £5 billion by 2032.

 

How we measure progress 

  • NAV per share return: on a one, three and five-year basis
  • Life science portfolio return: on a one, three and five-year basis
  • Capital pool as % of overall NAV

2024 Highlights 

  • Net assets of £1.2 billion
  • 1.2% NAV per share return
  • 2.2% return from the life science portfolio, with uplifts from Autolus offset by partial write-downs of Anaveon and Clade and the write-off of Gyroscope milestone payments − £452.8 million capital pool, 36.5% of NAV

Building the portfolio to 20-25 companies

Rationale

By creating or adding three new companies per annum we aim to expand the portfolio to 20-25 companies, diversified across clinical stage and therapeutic area.

How we measure progress

  • Number of companies in the portfolio
  • New companies added to the portfolio (over one, three and five years)
  • Capital deployed in the year

2024 Highlights

  • Strategic portfolio of 13 companies
  • Three new companies added to the portfolio in the year
  • £172.2 million deployed into the life science portfolio in the year

Clinical progress across the portfolio

Rationale

A measurement of progress of our portfolio companies through the clinical pathway and the growing maturity of the portfolio.

How we measure progress

  • Number of clinical-stage companies
  • Number of late-stage clinical companies
  • Number of pivotal studies
  • Number of clinical trials commenced in the year
  • % of portfolio at different clinical stage and value

2024 Highlights

  • Five clinical companies including two late-stage clinical, representing 71.1% of the strategic portfolio by value
  • 15 clinical data readouts across trials during the year
  • One clinical stage company added to the portfolio during the year
  • Two pivotal studies across the portfolio
  • Five new clinical trials commenced in FY2023/4

Access to capital

Rationale

A deep pool of capital underpins our strategy, enabling us to take a long-term view and support our portfolio companies as they scale.

How we measure progress

  • Available capital to deliver key value inflection points
  • Aggregate capital raised across Syncona and its portfolio companies

2024 Highlights

  • Syncona is funded to deliver on upcoming key value inflection points across its portfolio
  • Nine portfolio company financings and strategic transactions, with disciplined capital allocation across the portfolio to prioritise capital access

Sustainability and the Syncona team

Rationale

A measurement of our strong commitment to sustainability and the Syncona team.

How we measure progress

  • Performance against the four pillars of our Sustainability Policy

2024 Highlights

Responsible investor and partner

  • Submitted first UN PRI questionnaire2
  • Successful integration of sustainability into launch team processes
  • Increase in carbon emissions data gathered across the strategic portfolio
  • Rolled out increased monitoring for sustainability within the capital pool

Social impact

  • Autolus BLA filing for its lead obe-cel therapy as it approaches planned commercialisation
  • 0.35% donation to The Syncona Foundation
  • Launch of patient impact framework
  • Increased engagement with life sciences ecosystem

Inspiring and empowering our people

  • Focus on supporting female leadership, including launch of our Level 20 sponsorship
  • Launch of new Syncona Fellowship programme
  • Introduction of new team operating model, underpinning the delivery of Syncona’s 10-year targets

Responsible and ethical business

  • Submitted first interim net zero target, under the NZAM initiative2

1. As a percentage of life sciences NAV.
2. Syncona has signed up to the NZAM and PRI initiatives through the Company’s investment manager, SIML.

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