As we seek to build a diversified portfolio of 15-20 companies, some companies may not succeed and we may receive attractive offers for our companies from third parties.

Our capital pool underpins our long-term approach and enables us to fund our companies to succeed. This pool of capital also ensures we have full control and flexibility over the management of our portfolio and we seek never to be a forced seller. From time to time we may choose to divest an asset if there is an opportunity to capture an attractive risk adjusted return for our shareholders and it is the right outcome for the portfolio company. To date, we have divested two Syncona founded portfolio companies (Blue Earth and Nightstar) and two companies have not succeeded (Azeria and 14MG).

Our previous investments