Syncona Ltd GBP · LSE:SYNC
Syncona Ltd GBP — Syncona — Q3 FY2024 Earnings Presentation
14 slides from Syncona Ltd GBP's earnings presentation, February 2024
Slide 1: Third quarter update webinar
Synconaltd.com Third quarter update webinar February 2024
Slide 2: Cautionary statement
Cautionary statement This presentation has been prepared and published solely for informational purposes. Nothing expressed or implied from the forward-looking statements. contained in this presentation is intended to constitute an offer, invitation or inducement to engage in an investment activity.
Slide 3: Overview of Q3
Overview of Q3 Rigorous capital allocation and active portfolio management to deliver key value inflection points NAV per share return of 5.4% reported in the quarter Performance driven by the £111.1m increase in the value of Autolus, outweighing the partial write down of our holding in Anaveon to £
Slide 4: Performance in Q3
Performance in Q3 Net assets of £1.25bn – a NAV per share return of 5.4% in the period Performance driven by the increase in the value of our Life science NAV bridge £m holding in Autolus Life science portfolio valued at £699.8m, a return of 9.7% in the quarter and 3.0% for the nine months Value of
Slide 5: Positive clinical progress across the portfolio
Positive clinical progress across the portfolio Continued positive momentum as companies achieve milestones Best ideas Pre-clinical Clinical Late-stage BLA Stage of company clinical Positive clinical progress with 69% of value in the Companies moving toward being on the strategic life science portfo
Slide 6: Actively managing our portfolio
Actively managing our portfolio Prioritising capital access across the portfolio to enable delivery of key inflection points Decisive action to maximise value Challenging market conditions provide Driving capital discipline within the opportunity portfolio Anaveon has taken the strategic decision to
Slide 7: Market conditions remain challenging but value returning at late stage
Market conditions remain challenging but value returning at late stage Market activity beginning to normalise Average Enterprise Value of a Biotech listed on US exchanges by stage of development 2 Private and public financing environment remains challenging $1,200 31-Dec-21 16-Jun-22 31-Dec-22 19-Ma
Slide 8: Autolus update
Autolus update Company now funded to deliver obe-cel’s onward path Strategic collaboration Strategic collaboration announced between Autolus and BioNTech, aimed at advancing both companies' autologous CAR-T programs towards commercialisation, pending regulatory authorisations Significant investment
Slide 9: Key value inflection points with potential to drive NAV
Key value inflection points with potential to drive NAV Syncona is funded to delivered key value inflection points Milestone stage CY2024 CY2025 CY2026 On the market Traction in Autolus’ commercial launch of obe- cel in Adult ALL, 11 expected milestones across the portfolio dependent on FDA regulato
Slide 10: Scaling our net assets
Scaling our net assets Committed to delivering our long-term strategy against a challenging market backdrop Targets 3 new companies p.a. We expect this target to incorporate late-stage 3 new companies a year opportunities or a significant transaction Portfolio of 20-25 leading Portfolio increasingly
Slide 11: Summary
Summary Opportunity to deliver value in our portfolio and pipeline remains compelling The macroeconomic environment has been and remains challenging for biotech companies both in terms of the cost of and access to capital We remain resolutely focused on disciplined capital allocation and active port
Slide 12: Appendices
74 SYNCONA Appendices
Slide 13: Team driving value across the portfolio
Team driving value across the portfolio Deep technical scientific background, supplemented by strong commercial experience ranging from venture capital investment to pharmaceutical launch Senior investment team The senior investment team has over 108 years of experience and is supported by a wider i
Slide 14: Portfolio company valuations
Late-stage clinical Clinical Pre-clinical Fully diluted 30 Sep 2023 value £m Net invested/returned in Valuation 31 Dec 2023 value Valuation basis Portfolio company ownership % (fair value) the period £m change £m FX movement £m £m (fair value) (fair value)1,2 % of NAV 17.5% 64.0 - 111.1 (5.5) 169.6