Syncona reports flat year-end net assets

Healthcare investment company Syncona reported flat year-end net assets of £1.31bn in its final results on Thursday.

The FTSE 250 firm said that made for net assets per share of 194.4p as at March 31, rising from 193.9p, making for a net asset value total return of 0.3%, down from 4.4% last year.

It said its life science portfolio was valued at £525m, down from £722.1m at year-end, making for a return of 0.8%.

“The business is well positioned to create a diversified portfolio of 15-20 companies with a goal of delivering three to five companies in which we retain a significant ownership interest to the point of product approval on a rolling 10-year basis,” Syncona said on Thursday.

“We believe if we achieve this goal, we will deliver transformational outcomes for patients and strong risk-adjusted returns for shareholders.”