Syncona Limited NPV (SYNC)

Sector:

Investment Firms

Index:

FTSE 250

102.60p
   
  • Change Today:
      0.60p
  • 52 Week High: 130.60
  • 52 Week Low: 99.50
  • Currency: UK Pounds
  • Shares Issued: 628.90m
  • Volume: 452,007
  • Market Cap: £645.26m
  • RiskGrade: 291
  • Beta: 0.62

Syncona commits £63.5m to Resolution Therapies

By Josh White

Date: Thursday 03 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Syncona announced on Thursday that it has committed £63.5m in series B financing to Resolution Therapeutics, a portfolio company focused on macrophage therapy for inflammatory and fibrotic diseases.
The FTSE 250 said the funding would primarily support the clinical development of Resolution's lead candidate, RTX001, which it described as an innovative therapy targeting end-stage liver disease (ESLD).

It said the first tranche of £22m had already been invested, bringing Syncona's holding value in Resolution to £63.6m, with the company's ownership set to reach 82.6% on full drawdown of the series B funds.

RTX001, which was set to enter phase one and two trials in the fourth quarter, aimed to address ESLD, a severe form of liver failure where current treatment options were limited to liver transplants.

Resolution expected to deliver data from the trial by 2026, which could significantly increase Syncona's net asset value (NAV).

The proceeds would also be used to enhance Resolution's manufacturing platform, expand its preclinical pipeline, and strengthen its leadership team.

Resolution had also appointed Paul Sekhri as chair of the board, adding extensive drug development and business expertise.

Sekhri's leadership was expected to support the company's growth and help advance its strategy as it entered its critical clinical phase.

The series B financing brought the total raised by Resolution to £101.4m.

"The data that Resolution has generated to date in this emerging area of medicine is encouraging and, in our view, demonstrates the potential that macrophages have in treating end-stage liver disease," said Edward Hodgkin, managing partner at Syncona Investment Management and a non-executive director of Resolution.

"This is a potential first-in-class product being developed for a disease where patients have no effective therapeutic options and typically face a liver transplant or further deterioration of their condition, which is often fatal."

Hodgkin said Syncona was "delighted" to continue to support Resolution with its commitment to its series B financing, in line with the company's focus on allocating capital to clinical-stage assets and assets approaching clinical entry.

"We are also very pleased to welcome to Resolution Paul Sekhri, who brings a demonstrable track record in supporting companies through the development cycle and will act as a valuable sounding board for the company's growing executive team."

At 1145 BST, shares in Syncona were down 0.53% at 112.6p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SYNC Market Data

Currency UK Pounds
Share Price 102.60p
Change Today 0.60p
% Change 0.59 %
52 Week High 130.60
52 Week Low 99.50
Volume 452,007
Shares Issued 628.90m
Market Cap £645.26m
Beta 0.62
RiskGrade 291

SYNC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
32.36% above the sector average32.36% above the sector average32.36% above the sector average32.36% above the sector average32.36% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
77.92% below the sector average77.92% below the sector average77.92% below the sector average77.92% below the sector average77.92% below the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
83.63% above the sector average83.63% above the sector average83.63% above the sector average83.63% above the sector average83.63% above the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SYNC Dividends

  Latest Previous
  Final Final
Ex-Div 21-Jun-18 20-Jul-17
Paid 30-Jul-18 23-Aug-17
Amount 2.30p 2.30p

Trades for 06-Dec-2024

Time Volume / Share Price
16:35 40,867 @ 102.60p
16:35 1 @ 102.60p
16:35 3,366 @ 102.60p
16:35 2,309 @ 102.60p
16:35 345 @ 102.60p

SYNC Key Personnel

Chair Melanie Gee

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