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08 Feb, 2024 09:04 08 Feb, 2024 09:04

Syncona NAV grows in Q3

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SynconaSharecast graphic / Josh White

Life sciences investor Syncona said on Thursday that its net asset value had grown in the three months ended 31 December, driven by a prioritisation of capital allocation across its portfolio to enable the delivery of key inflection points.

Syncona said net assets had risen from £1.2bn at the end of September to £1.25bn at the end of December, with a NAV per share return of 5.4% in the period, driven by a £111.1m increase in the value of Autolus Therapeutics.

The FTSE 250-listed group added that over the nine months to 31 December, NAV per share returned 0.9%, with its life science portfolio generating a return of 3.0%.

Chris Hollowood, chief executive of Syncona Investment Management, said: "We have continued to take decisive action to support our companies' ability to deliver on their next key clinical milestones to maximise value across the portfolio against a continuing challenging market backdrop in the third quarter.

"Looking ahead, we have six key value inflection points over the next 12-36 months with the potential to drive significant NAV growth and are funded to deliver these. We will continue to take a rigorous approach to capital allocation and portfolio management, whilst also continuing to fuel our long-term growth by creating new companies across the new frontier of science."

As of 0900 GMT, Syncona shares were down 0.087% at 115.50p.

Reporting by Iain Gilbert at Sharecast.com


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We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.