5th Feb 2025 11:28
(Alliance News) - Syncona Ltd on Wednesday said portfolio company Achilles Therapeutics PLC is planning to return capital to shareholders though a members' solvent voluntary liquidation.
The London-based investor in healthcare companies said that if Achilles shareholders approve the proposals they will receive between GBP1.20 to GBP1.32 per share.
Syncona currently holds around 11.1 million ordinary shares in Achilles, suggesting it stands to receive between GBP13.3 million and GBP14.7 million. The stake was valued in Syncona balance sheet at GBP8.5 million, 0.7% of its net asset value, as of September 30.
The general meeting of Achilles shareholders will take place on March 20, with the first distribution set to take place between six to eight weeks later.
On Tuesday, Syncona said its portfolio company Spur Therapeutics said it had received positive data from its study of FLT201, a novel gene therapy candidate in Gaucher disease.
Syncona Investment Management Chief Executive Officer Chris Hollowood said: "These data further reinforce our belief that FLT201 has the potential to be a first- and best-in-class gene therapy for Gaucher disease. Through a single infusion, FLT201 has shown improvements to symptoms that had been persistent in patients receiving approved therapies for years and in some cases decades."
Syncona shares were up 0.7% to 90.63 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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