LONDON (ShareCast) - (Sharecast News) - Health investor Syncona reported a fall in annual net asset value, driven by falls in its listed holdings and the partial write-down of neurological gene therapy company SwanBio, partially offset by foreign exchange tailwinds and uplifts elsewhere in its portfolio.
The company held net assets of £1.25bn or 186.5p per share in the year to March 31, compared with £1.31bn, or 194.4p a year earlier.

"We recognise that the share prices of Syncona's listed holdings have continued to weigh on performance, and that this has been impacted by the current macro conditions as well as specific company issues," the company said.

"The Syncona team has worked closely with the management teams at these portfolio companies to ensure they remain funded to deliver their next key milestones and are focused on delivering value from their clinical stage programmes."

Syncona said it had written down its holding in SwanBio to £58.2m, a £51m decline in value during the year.

Reporting by Frank Prenesti for Sharecast.com

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