Healthcare company increases portfolio value by 35 per cent in one quarter

A UK healthcare company has announced that it has increased its portfolio value by 35 per cent in the past three months.

Syncona, which is headquartered in London, valued its life science portfolio at £677m, a return of 35.1 per cent since the end of March this year.

The company said that its performance in the period was driven by the increase in the Autolus Therapeutics share price and the write-up of Freeline Therapeutics in its recent Series C financing.

It also announced today that it plans to make further investments to fund the development of a new team to research liver disease treatments.

Martin Murphy, CEO of Syncona Investment Management, commented: “The effects of COVID-19 have had a profound impact on society and the way we work.

“It is too early to assess its long-term impact, but against this unprecedented backdrop, Syncona has performed robustly and the value of developing long term clinical solutions has never been clearer.

“Our strong cash position and high calibre team, which we have enhanced during the quarter, continue to deliver and we are developing a pipeline of opportunities even as restrictions on travel and working practices remain.

“We have demonstrated strong value progression for our shareholders in the first quarter, with a 35 per cent increase in the value of our life sciences portfolio.

“Across our portfolio, we were pleased to see positive clinical data generation and the appointment of world-class leaders with the expertise to drive the continued development of innovative products.

“Our strong capital base underpins our approach to pursue exciting new opportunities and continue to fund our companies, which are scaling rapidly.

“We believe our companies are well placed to execute on strategy and we will continue to maintain a disciplined approach to the allocation of capital across our portfolio to maximise risk-adjusted returns for shareholders.”

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