Syncona’s net asset value in Q3 increased; Portfolio companies continued to attract capital

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By Anthony O. Goriainoff


Syncona Ltd. said Thursday that its net asset value rose 16% in the third quarter from the prior quarter and that its portfolio companies continued to attract substantial capital during the period.

The London-listed life sciences investment firm said net assets as of December 31 were £1.34 billion ($1.81 billion) compared to £1.15 billion as of December 30. September.

The company said it received five major funding commitments in the period ended Dec. 31, totaling $674 million in capital from Autolus, Quell, Anaveon, Gyroscope and Clade.

The company said it expects the upcoming sale of holding company Gyroscope Therapeutics to Novartis AG will bring a £221 million increase to net asset value. The company said it expects initial proceeds at closing to be £326.7 million.

Syncona said in December that Novartis had agreed to acquire Gyroscope for up to $1.5 billion.

“Many of our companies are approaching reading clinical data over the next 12 months, and we remain confident in the potential of our portfolio to drive value and deliver transformational treatments to patients,” said Chief Executive Martin Murphy. .

Shares at 0845 GMT rose 6.80 pence, or 3.5%, to 202 pence.


Write to Anthony O. Goriainoff at [email protected]


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