Syncona announces First Quarter Update

We are pleased with the continued positive clinical progress across our companies over the period, with five clinical stage businesses now within the Syncona portfolio

Syncona Ltd, a leading healthcare company focused on founding, building and funding a portfolio of global leaders in life science, today issues its quarterly update covering the period from 31 March 2021 to 30 June 2021.

Key operational and financial highlights:

  • Strong clinical progress with five clinical stage companies now in the portfolio, following Anaveon dosing its first patient in June
  • Freeline Therapeutics doses further patient in its second clinical programme in Fabry disease
  • Autolus Therapeutics published further encouraging durability data in its AUTO1 programme for adult acute lymphoblastic leukaemia (ALL)
  • Net assets of £1,200.4 million, 178.9p[1] per share, a NAV return of (7.7) per cent in the period
  • Life science portfolio valued at £622.4 million (31 March 2021: £722.1 million), a total return of (13.9) per cent in the quarter
  • Listed portfolio companies are funded to deliver further clinical data, which is the key driver of value; share prices of the listed holdings have been volatile but Syncona is focused on the long term and remains confident in the companies’ fundamentals and recent progress
  • Capital base of £578.0 million on 30 June 2021
  • New members of expanded senior leadership team are now operational, with Rolf Soderstrom (Chief Financial Officer), Fiona Langton-Smith (Chief Human Resources Officer) and Markus John (Head of R&D and Chief Medical Officer) joining the business

Martin Murphy, CEO, Syncona Investment Management Limited, said: “We are pleased with the continued positive clinical progress across our companies over the period with Anaveon dosing the first patient in its clinical programme and becoming Syncona’s fifth clinical-stage business.

Whilst we recognise that the share price performance of our listed holdings has brought volatility to our NAV, we remain focused on delivering value over the long-term. Our portfolio is funded to deliver important clinical milestones, which are potential key value drivers for our business over the next 12-24 months. Our companies are executing on their business and clinical plans and we have a high level of conviction in their fundamentals. We also continue to seek a wide range of exciting new opportunities to found and invest in the next generation of globally leading life science businesses.”


[1] Fully diluted

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