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Syncona (SYNC) Share News

IN BRIEF: Syncona agrees to buyout deal with Freeline Therapeutics

22nd Nov 2023 14:30

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. Read More

Syncona reports declining asset value as investment head steps down

16th Nov 2023 10:34

(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". Read More

IN BRIEF: Syncona notes investee company's quarterly loss

14th Nov 2023 11:29

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. Read More

UK earnings, trading statements calendar - next 7 days

9th Nov 2023 15:44

TRADING UPDATES: Augmentum Fintech makes further investment in Tide

3rd Nov 2023 11:51

(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: Read More

IN BRIEF: Syncona announces takeover offer for Freeline Therapeutics

18th Oct 2023 12:01

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. Read More

Syncona says Freeline and SwanBio clinical trails make progress

4th Oct 2023 14:28

(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. Read More

IN BRIEF: Syncona launches GBP40 million share buyback programme

29th Sep 2023 09:51

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". Read More

Syncona suffers negative valuation hit as Novartis discontinues GT005

11th Sep 2023 09:51

(Alliance News) - Syncona Ltd on Monday said it has been informed by Swiss-American pharmaceutical company Novartis AG that the development of eye treatment, GT005, for geographic atrophy secondary to dry age-related macular degeneration will be discontinued. Read More

LONDON BRIEFING: Restaurant Group sells Frankie & Benny's and Chiquito

11th Sep 2023 07:54

(Alliance News) - Stocks in London are called higher on Monday, ahead of a busy week of interest rate decisions and economic data. Read More

IN BRIEF: Syncona notes clinical progress of portfolio firm Freeline

15th Aug 2023 13:56

Syncona Ltd - London-based healthcare investor - Notes second quarter results announcement from its Nasdaq-listed portfolio company Freeline Therapeutics Holdings PLC. Says the key highlights include Freeline completing the dosing in the first dose cohort of the phase 1/2 trial of FLT201 in Gaucher disease, following dosing of the second patient. Says initial clinical data from the FLT201 trial is expected in the second half of 2023. Also says Freeline has a cash position of USD38.8 million at June 30 compared to USD55.4 million on March 31, which Freeline expects will enable the company to fund its planned operations into the second quarter of 2024. Freeline says net income in the three months that ended June 30 narrowed to USD14.8 million from USD51.1 million a year earlier. Read More

IN BRIEF: Syncona says net asset value slips 1% in first quarter

10th Aug 2023 09:33

Syncona Ltd - London-based healthcare investor - Net asset value at June 30 is 184.6 pence per share, down 1.0% from 186.5p on March 31. NAV total return also was negative 1.0% for the recent three months, Syncona's financial first quarter. Notes performance was hurt by "negative foreign exchange movements" across its life science portfolio. This is valued at GBP628.7 million on June 30, up 4.0% from GBP604.6 million on March 31. Read More

IN BRIEF: Syncona's portfolio Achilles Therapeutics net loss narrows

4th Aug 2023 14:09

Syncona Ltd - Healthcare company focused on developing its life science portfolio - Notes its portfolio company Archilles Therapeutics PLC's net loss in its second quarter ended June 30 narrows 2.9% to USD16.8 million, from USD17.3 million year-on-year. Cash and cash equivalents are "strong", standing at USD143.7 million on June 30, down 17% from USD173.3 million on December 31. Research & development expenses increase are USD13.8 million, down 6.8% from USD14.8 million at the same point the year prior. Archilles Therapeutics's general & administrative expenses were USD4.3 million, down 26% from USD5.8 million the year before, driven by a change in cost allocations and lower professional fees. Read More

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