By Anthony O. Goriainoff

 

Syncona Ltd. said on Thursday that its net asset value rose 16% in the third quarter compared with the previous quarter, and that its portfolio companies continued to attract substantial capital in the period.

The London-listed life-sciences investment company said net assets at Dec. 31 were 1.34 billion pounds ($1.81 billion) compared with GBP1.15 billion on Sept. 30.

The company said it received five significant financing commitments in the period ended Dec. 31 totaling $674 million of capital across Autolus, Quell, Anaveon, Gyroscope and Clade.

The company said it expects the forthcoming sale of portfolio company Gyroscope Therapeutics to Novartis AG to deliver a GBP221 million uplift to net asset value. The company said it anticipates upfront proceeds on closing to be GBP326.7 million.

Syncona said in December that Novartis had agreed to acquire Gyroscope for up to $1.5 billion.

"Many of our companies are approaching clinical data readouts in the next 12 months, and we remain confident in the potential of our portfolio to drive value and deliver transformational treatments to patients," Chief Executive Martin Murphy said.

Shares at 0845 GMT were up 6.80 pence, or 3.5%, at 202 pence.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

February 10, 2022 04:11 ET (09:11 GMT)

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