12th Nov 2026 19:00
(Alliance News) - Syncona Ltd on Thursday reported increased net asset value per share in the six months ended September 30, driven primarily by an uplift in the value of its investment in Beacon Therapeutics.
The London-based life sciences investor said NAV per share rose to 175.7 pence at September 30, up 3.0% from 170.6 pence a year earlier.
The increase was driven by a GBP48.5 million uplift in the deferred consideration relating to Beacon Therapeutics Ltd, a clinical-stage biotechnology company developing gene therapies for people with rare and prevalent eye diseases.
The uplift followed Beacon's positive Phase 2 and Phase 3 pivotal trial results in X-linked retinitis pigmentosa, which are expected to underpin a biologics license application filing.
Syncona said it continued to focus on advancing its Life Science Portfolio towards late-stage clinical development. The portfolio's total value increased by 9.7% to GBP920.7 million at September 30, from GBP839.4 million at March 31.
Syncona did not declare an interim dividend, unchanged from a year earlier. The company said dividend payments remain at the discretion of the directors.
The company reiterated its focus on delivering its shareholder returns policy.
"In the coming months, we expect to build and unlock more latent value across this exciting portfolio of companies, focusing first on the return of a minimum of GBP250 million proceeds to shareholders in a timely manner, whilst also driving significant future value and growth," Syncona said.
Shares in Syncona closed up 0.2% at 125.60 pence in London on Thursday.
By Camilla Borri, Alliance News reporter
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