Syncona invests $18m in Nightstar offering

Healthcare investor Syncona said it was investing $18m (£13.7m) in portfolio company Nightstar Therapeutics through a placing of American depositary receipts.

As a result, Syncona would hold a 39% stake in Nightstar, valued at £187.6m.

“Our strategy is to build global leaders by supporting our companies strongly over the long-term,” said Syncona chief investment officer and Nightstar chairman Chris Hollowood said.

“We are demonstrating this approach today with our investment in Nightstar, a company which we believe has the potential to become a global leader in gene therapies for inherited blinding conditions.”

Nightstar priced its underwritten public offering of 4m American depositary shares, representing 4m ordinary shares, at a price of $18 per ADS.