Clade Therapeutics was founded in 2021 with the aim of discovering and delivering scalable next generation induced pluripotent stem cell (iPSC)-derived medicines.

iPSCs are a type of pluripotent stem cell which can be generated directly from mature cells (such as those of the skin or blood). They hold great promise in the field of regenerative medicine, because they are able to multiply indefinitely, can be stored for long periods, and can produce tissue cells of any kind. At the time of its sale, Clade required significant capital to progress to the clinic and despite the positive scientific progress that had been made up to this point as well as the potential of its technology, access to significant third-party capital had been challenging for the company.


In April 2024 an agreement was reached for Century to acquire Clade in a transaction worth up to $45 million. The sale enabled Syncona to redeploy the proceeds and our resource back into our portfolio in line with its capital allocation focus of maximising value for shareholders.

  • Syncona first invested in Clade in August 2021, committing $30 million, alongside external investors as part of a $87 million Series A financing
  • In April 2024 the company was sold to Century in a transaction worth up to $45 million (£35.9 million). This included up front consideration of $35 million (£27.9 million) in a combination of cash and shares in Century, along with $10 million (£8.0 million) in potential milestone payments[1]
  • Syncona received an estimated up front consideration at closing of $9.3 million (£7.4 million) for its 22% ownership position in the company, an estimated £16.1 million write down from the 31 December 2023 valuation of £23.5 million

[1] All FX rates as of the closing date of the transaction (10 April 2024).

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