Syncona Limited Nightstar announces closing of IPO
October 03 2017 - 2:00AM
UK Regulatory
TIDMSYNC
Syncona Limited
Nightstar announces closing of IPO
3 October 2017
Syncona Ltd ("Syncona"), a leading healthcare company focused on investing in
and building global leaders in life science, today notes that its portfolio
company Nightstar Therapeutics plc (??Nightstar") has today
announced the closing of its previously announced initial public offering in
the United States of 6,164,000 American Depositary Shares ("ADSs") representing
6,164,000 ordinary shares, at an initial public offering price of $14.00, which
includes an additional 804,000 ADSs issued upon the exercise in full by the
underwriters of their option to purchase additional ADSs. All of the ADSs were
offered by Nightstar.
Following completion, Syncona retains a stake of 42.2 per cent in Nightstar
(amounting to 12,203,922 ordinary shares/ADSs), which was valued at GBP174.6m at
close of business on 29 September 2017.[1]
This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities, and shall not constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
that jurisdiction.
[ENDS]
Enquiries
Syncona Ltd
Siobhan Weaver
Tel: +44 (0) 20 7611 2031
Tulchan Communications
Martin Robinson
Lisa Jarrett-Kerr
Tel: +44 (0) 207 353 4200
Copies of this press release and other corporate information can be found on
the company website at: www.synconaltd.com
Forward-looking statements - this announcement contains certain forward-looking
statements with respect to the portfolio of investments of Syncona Ltd. These
statements and forecasts involve risk and uncertainty because they relate to
events and depend upon circumstances that may or may not occur in the future.
There are a number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these forward-looking
statements and forecasts. Nothing in this announcement should be construed as a
profit forecast.
About Syncona:
Syncona is a leading FTSE250 healthcare company focused on investing in and
building global leaders in life science. Our vision is to deliver
transformational treatments to patients in truly innovative areas of healthcare
while generating superior returns for shareholders. Our current investment
portfolio consists of seven high quality companies in life science and a
leading range of fund investments.
We seek to partner with the best, brightest and most ambitious minds in science
to build globally competitive businesses. We are established leaders in gene
therapy, cell therapy and advanced diagnostics, and focus on delivering
dramatic efficacy for patients in areas of high unmet need.
Our market leading funds portfolio seeks to generate superior returns by
investing in long only and alternative investment funds. This represents a
productively deployed evergreen funding base which enables us to take a long
term approach to investing in life sciences as we target the best new
opportunities and support our existing portfolio companies to grow and succeed.
Syncona is aligned with two of the premium charitable funders in UK science,
the Wellcome Trust, original founder of Syncona, and Cancer Research UK, both
of which are significant shareholders in our business. We make a donation of
0.3% of Net Asset Value to a range of charities each year.
About Nightstar:
Nightstar is a leading clinical-stage gene therapy company focused on
developing and commercializing novel one-time treatments for patients suffering
from rare inherited retinal diseases that would otherwise progress to
blindness.
About Gene therapy:
Genetic diseases are caused by absent or mutated versions of genes. Gene
Therapy involves treating a subset of these diseases by delivering a normal
copy of the gene to the cells to replace missing or defective ones in order to
correct the genetic disorder. There are more than 250 monogenic diseases of the
eye which are known to result in blindness. The retina, at the back of the eye,
is ideally suited to gene therapy as it is easily accessible and can be viewed
during surgery. Delivering the normal gene to dysfunctional cells of the retina
may enable the cells to function normally, potentially restoring or retaining
vision.
[1] As at exchange rates on 29 September 2017
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