Syncona Share News (SYNC)

Syncona NAV grows in Q3

(Sharecast News) - Life sciences investor Syncona said on Thursday that its net asset value had grown in the three months ended 31 December, driven by a prioritisation of capital allocation across its portfolio to enable the delivery of key inflection points.

IN BRIEF: Syncona notes FDA acceptance of Autolus's BLA for obe-cel

Syncona Ltd - London-based investor in healthcare companies - The US Food & Drug Administration accepts Autolus Therapeutics PLC's biologics licence application for obe-cel for patients with relapsed/refractory adult B-cell acute lymphoblastic leukaemia. The FDA has set a target action date of November 16 for reviewing the application, Syncona says. Further, Autolus is on track to submit a marketing authorisation application to the EU's European Medicines Agency in the first half of 2024.

Syncona says Freeline trial for Gaucher disease treatment positive

(Alliance News) - Syncona Ltd on Friday noted Freeline Therapeutics Holdings PLC's positive data for Gaucher disease treatment.

IN BRIEF: Syncona notes Beacon's "encouraging" AGTC-501 trial data

Syncona Ltd - London-based investor in healthcare companies - Says portfolio company, Beacon Therapeutics has presented three-month data from the phase 2 Skyline trial of its viral vector-based gene therapy AGTC-501 in X-linked retinitis pigmentosa at the Floretina ICOOR 2023 Congress in Rome. Notes AGTC-501 shows an "encouraging efficacy profile", showing a "significant improvement" in retinal sensitivity. Adds that there are no clinically significant safety events related to AGTC-501.

TRADING UPDATES: Molten Ventures completes raise; Saietta proposes one

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

IN BRIEF: Syncona agrees to buyout deal with Freeline Therapeutics

Syncona Ltd - London-based investor in healthcare companies - Agrees to acquire all remaining stock in investee Freeline Therapeutics Holdings PLC for USD6.50 in cash per share, valuing Freeline at approximately USD28.3 million. Syncona currently owns 49.7% of shares in Freeline. The company will provide up to USD15 million of financing in conjunction with the acquisition to enable Freeline to meet its near-term cash requirements and continue advancing its lead programme FLT201, a potential gene therapy for Gaucher disease.

Syncona reports declining asset value as investment head steps down

(Alliance News) - Syncona Ltd on Thursday said net asset value decreased as it swung to a negative return in its latest half year, but that it is well-positioned for future growth thanks to its "rich pipeline".

Syncona net asset value falls, co-founder steps down

(Sharecast News) - Life science specialist Syncona reported a net asset value of £1.2bn at the end of its first half on Thursday, down from £1.25bn on 31 March, with a net asset value return of -4.2% during the period.

IN BRIEF: Syncona notes investee company's quarterly loss

Syncona Ltd - London-based investor in healthcare companies - Says portfolio company Achilles Therapeutics reports that pretax loss widened to USD16.7 million in the third quarter of 2023 from USD12.4 million the year before, as operating expenses rose 19% to USD19.1 million from USD16.0 million a year ago. Achilles is a Philadelphia, US-based clinical-stage biopharmaceutical company which develops novel cancer immunotherapies. Syncona owns a 25% stake in Achilles.

UK earnings, trading statements calendar - next 7 days

TRADING UPDATES: Augmentum Fintech makes further investment in Tide

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Thursday and Friday and not separately reported by Alliance News:

IN BRIEF: Syncona announces takeover offer for Freeline Therapeutics

Syncona Ltd - London-based investor in healthcare companies - Says Syncona Investment Management Ltd has submitted a non-binding proposal to acquire the entire remaining share capital of Freeline Therapeutic Holdings PLC. Offers upfront cash consideration of USD5.00 per American depository share, representing a 20% premium over the USD4.16 volume weighted average price from October 4 to October 16. Syncona currently owns around 57.9% of shares in Stevenage, England-based Freeline, which it co-founded in 2015. Freeline aims to develop gene therapies to treat chronic diseases, most notably its potentially "transformative" FLT201 programme to treat Gaucher disease.

Syncona says Freeline and SwanBio clinical trails make progress

(Alliance News) - Syncona Ltd on Wednesday said its portfolio company Freeline Therapeutics Holdings PLC has received positive initial safety, tolerability and enzyme activity data from its FLT201 trial for the treatment of Gaucher disease.

IN BRIEF: Syncona launches GBP40 million share buyback programme

Syncona Ltd - London-based investor in healthcare companies - Launches share buyback programme worth up to GBP40.0 million, to be conducted by Numis Securities Ltd. Says core focus remains on allocating capital to portfolio companies' assets. However the buyback is necessary due to Syncona's shares currently trading at a discount to net asset value, which was 184.6 pence per share at June 30. Says buyback will not affect investments into clinical stage assets planned for the next 24 months. Company expects that capital deployment into portfolio and pipeline will total between GBP150 million and GBP200 million for the year ending March 31, in line with prior guidance. Chair Melanie Gee says Syncona "has a high level of confidence in our portfolio and its valuation".

Syncona shares slump as Novartis ends eye treatment development

(Sharecast News) - Syncona shares fell as the UK healthcare investment firm said Novartis had stopped the development of experimental eye treatment, GT005, resulting in milestone payments write-off of £54.5m for Gyroscope Holdings in which Syncona once held a 54% stake.