9th Aug 2018 09:23
LONDON (Alliance News) - Healthcare investor Syncona Ltd said Thursday its net assets increased significantly in its financial first quarter, due to the strong performance and increasing size of its life science portfolio.
As at June 30, Syncona's net asset value per share was 193.1 pence, up from 158.9p on March 31, the end of its previous financial year. Including a dividend payment of 2.3 pence per share paid in July, Syncona's total net asset return for the first quarter was 23%.
The company's net assets stood at GBP1.28 billion at the end of the period, with the life sciences portfolio comprising 62% of this with a GBP789.4 million valuation, up 35% from GBP514.5 million on March 31, when it represented 49% of total net assets.
Post period end, Syncona sold its entire holding in biopharmaceutical company Endocyte for a total realised gain of GBP10.2 million
The company redeemed GBP27.9 million from its long-only strategies investments and invested GBP13.2 million in hedged strategies in the recent quarter as part of a general shift in focus.
"This is an important period for Syncona as our portfolio companies progress through clinical trials. There remains much to do as we work to support these businesses to become global leaders in their fields and deliver transformational treatments to patients," said Chief Executive Martin Murphy.
Shares in Syncona were up 0.8% at 249.00 pence on Thursday.
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