4th Feb 2020 10:51
(Alliance News) - Syncona Ltd said Tuesday reported slight growth in net asset value per share over a "productive" third quarter.
The life sciences investment firm recorded NAV per share of 199.4 pence at December 31, on GBP1.34 billion of net assets, which represents a total return of 0.2% over the three months from the start of October.
Over the nine months from March 31, the company's first three quarters, Syncona's NAV total return is negative 7.0%.
Martin Murphy, chief executive of Syncona Investment Management Ltd, said: "We have had a productive third quarter, funding Freeline as it continues to scale and leading a financing in a new Syncona company, Azeria, where there is an exciting opportunity to build a world-class oncology company. We have also seen strong clinical progress across the portfolio with Autolus, Freeline and Gyroscope progressing seven clinical trials."
The company's portfolio was valued at GBP516.6 million at the end of 2019, up 7.3% from GBP481.3 million at the beginning of October.
In the quarter, Syncona deployed GBP39.9 million in capital, and now sits with a capital base of GBP823.4 million.
"We continue to take a hands-on approach to capitalise on the significant opportunities ahead. We have a strong pipeline of opportunities to found new companies and will ambitiously fund our growing portfolio," Murphy added.
Shares in Syncona were up 1.6% in London on Tuesday mid-morning at 218.50 pence each.
By Paul McGowan; [email protected]
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