Syncona Ltd (CHIX:SYNCl)
£ 1.108 -0.001 (-0.09%) Market Cap: 730.10 Mil Enterprise Value: 730.08 Mil PE Ratio: 0 PB Ratio: 0.64 GF Score: 36/100
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Half Year 2021 Syncona Ltd Earnings Call Transcript

Nov 19, 2020 / 09:00AM GMT
Release Date Price: £2.6 (-2.99%)
Martin Patrick Murphy
Syncona Limited - CEO of Syncona Investment Management Ltd.

Good morning, and welcome to Syncona's interim results. Despite the challenges of the last 6, 7 months with COVID, Syncona has continued to make good progress. Despite the challenges introduced by COVID with respect to clinical development, our clinical companies are making progress. And in addition, we've seen significant financial and operational progress across the portfolio.

On the financial side, we're delighted today to announce that Achilles has raised just under GBP 53 million in a financing from high-quality external investors, and that capital will be invested alongside the outstanding second tranche of the Series B financing in which Syncona was the largest investor. The capital is being invested at an uplift, which will result in around a GBP 10 million increase in NAV.

Key to our progress of our portfolio companies is the quality of the people that we're able to attract to those companies. And over the period, we've made progress on multiple fronts across the portfolio.

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