Syncona Ltd GBP · LSE:SYNC
Syncona Ltd GBP — Syncona — FY2022 Earnings Presentation
40 slides from Syncona Ltd GBP's earnings presentation, June 2022
Slide 1: Investing to extend and enhance human life
Investing to extend and enhance human life Full year results 2022 synconaltd.com Image Freeline labs, Stevenage
Slide 2: Cautionary statement
Cautionary statement This presentation has been prepared and published solely for informational purposes. Nothing contained in this presentation is intended to constitute an offer, invitation or inducement to engage in an investment activity. In this statement, "presentation" means this document tog
Slide 3: A long-term vision: 10 years of Syncona
A long-term vision: 10 years of Syncona Co-founded in 2012 with The Wellcome Trust, our purpose is to invest to extend and enhance human life A decade of building global leaders Our growing track record 15 programmes taken into the clinic; 1 marketed product − Built 18 companies since − £905.7m depl
Slide 4: Progress in the year
Progress in the year Delivering a return in a challenging market; growing track record of successfully building globally competitive businesses − NAV of £1.3bn, 194p per share, return of 0.3% Delivered a return against a − 0.8% return from life science portfolio; aggregate uplift in value of private
Slide 5: Gyroscope is third successful exit for Syncona
Gyroscope is third successful exit for Syncona Drives significant value for Syncona shareholders; Strong returns from investment in Gyroscope continued interest from pharma for Syncona companies Gyroscope was co-founded by Syncona in 2016 − Novartis agreed to acquire Gyroscope in December 2021 for u
Slide 6: Challenging market backdrop for listed companies
Challenging market backdrop for listed £m Movement in listed holdings offset companies positive valuation changes in private portfolio Sentiment towards cell and gene therapy companies continues to impact listed holdings Public markets continue to be challenging for smaller biotech stocks − On avera
Slide 7: Promise of cell and gene therapy remains
Promise of cell and gene therapy remains Public market sentiment impacted by industry challenges as field matures; field remains exciting with significant untapped potential Curative potential of the products with significant commercial opportunity − Cell and gene therapies seeking to target disease
Slide 8: Portfolio update
Portfolio update
Slide 9: Clinical stage companies
Clinical stage companies Maturing clinical pipelines, with multiple upcoming data read-outs and Autolus’ obe-cel in pivotal trial Cash runways / funds raised in 2021/2 Research | Target ID | Pre-Clinical | Clinical - Published further data in lead obe-cel programme in adult ALL; Gen 1 Obe-cel – aALL
Slide 10: Pre-clinical companies
Pre-clinical companies Significant momentum across pre-clinical companies; well Funds raised in funded to deliver key clinical milestones 2021/2 Funds raised in 2021/2 - Continuing to build out senior leadership team - Strong progress across pre-clinical pipeline - - Positioned to be a leader in AAV
Slide 11: Diversified portfolio set to deliver key upcoming milestones
Diversified portfolio set to deliver key upcoming milestones Four at clinical stage, with a further three expected to enter the clinic in the next 12 months Upcoming clinical milestones Pre-clinical Phase I/II Phase III/Pivotal BLA* Launch Autolus – Meaningful read-out from obe-cel in r/r adult ALL
Slide 12: An exciting pipeline of opportunities
An exciting pipeline of opportunities Genetic medicines are unlocking diseases and streamlining drug development Cell and gene therapies have demonstrated transformative potential; significant opportunity ahead Cell therapy Gene therapy − Continue to be active within cell therapy, as shown by $30.0m
Slide 13: Capital pool
Capital pool
Slide 14: Supporting our portfolio companies as they scale
Supporting our portfolio companies as they Money raised by portfolio companies in FY2021/2 scale $m* 300 Syncona 3rd Party - Our balance sheet is a strategic and 250 competitive advantage; gives us flexibility to bring in specialist institutional investors at the 200 right time and price - $712.2m c
Slide 15: Strengthened capital pool
Strengthened capital pool Our strengthened capital base provides us with a strategic advantage, particularly in the current market environment Capital deployment to increase in FY2022/3 - £123.2m deployed into portfolio in the year - Expect to deploy £150-£250m of capital in FY2022/3 as we found new
Slide 16: Outlook
v ~ Outlook a
Slide 17: Building on our success
Building on our success Leveraging our successes and applying the lessons of the last 10 years to drive the business forward over the next decade Operating at scale − NAV of £1.3bn Where we − Capital pool of £785m are today \\\\\\\\\\\\\\\\\\\\ − 1,200+ employed at Syncona and its portfolio companie
Slide 18: Summary
Summary Syncona’s platform seeks to create value from the commercialisation of life science innovation CURRENT PORTOLIO ROLLING 10-YEAR TARGETS Syncona team has shown it can effectively manage the portfolio and deliver a return 18Portfolio companies 3 aggregate 4.6x multiple on capital Companies sol
Slide 19: Appendix 1 – Syncona team
Appendix 1 – Syncona team
Slide 20: An expert multi-disciplinary investment team
An expert multi-disciplinary investment team Our unique skill set Scientific Commercial Company creation Investment Martin Murphy 1,2 Chris Hollowood 1 Markus John Edward Hodgkin 1,2 Co-founder, CEO CIO, SIML CMO, Head of R&D Senior Partner and Chair, SIML PhD MD PhD PhD 21 years’ experience 20 year
Slide 21: Appendix 2 – Market context
Appendix 2 – Market context
Slide 22: Potential to transform the lives of patients
Potential to transform the lives of patients Kite/Gilead: engineered CAR-T cell therapy for adult relapse / refractory 43% of patients alive at five years post treatment 2 3x overall survival rate of current standard of care at 12 Diffuse Large B-cell Lymphoma months3 Designed to halt a disease or r
Slide 23: Cell and gene therapies have the potential to disrupt the market
Cell and gene therapies have the potential to disrupt the market “… By 2025, we predict that the FDA will be approving 10 to 20 cell and gene therapy products a year based on an assessment Approved cell and gene therapies are expected to increase of the current pipeline and the clinical success rate
Slide 24: Appendix 3 – Portfolio companies
Appendix 3 – Portfolio companies
Slide 25: Financial review
Financial review Clinical Pre-clinical Drug discovery Portfolio company Fully diluted 30 March 2021 value Net invested/returned in the Valuation FX movement 31 March 2022 value Valuation basis % of ownership % £m (fair value) period £m change £m (fair value) (fair value)1,2 NAV 18.8% 81.2 - (22.1) 2
Slide 26: Portfolio company outlook
Portfolio company outlook Upcoming milestones across the portfolio Company Status of pipelines Next steps Five ongoing clinical trials - Progress pivotal study in obe-cel / adult ALL, with meaningful data in H2 CY2022 with full data expected in H1 CY2023 - Publish longer term follow-up data in AUTO1
Slide 27: Autolus Therapeutics
Autolus Therapeutics Applying a broad range of technologies to build Investment thesis a pipeline of precisely targeted T cell therapies - Syncona believes obe-cel has a designed to better recognise and attack cancer differentiated safety profile and improved persistence to address limitations of Bo
Slide 28: Anaveon
Anaveon Exploiting the power of cytokines to orchestrate Investment thesis immune responses by using protein - Developing a selective IL-2 agonist with engineering with the potential to create safe improved administration and toxicity and effective treatments for various diseases burden - Wide poten
Slide 29: Freeline Therapeutics
Freeline Therapeutics Seeking to deliver constant high protein Key management team Investment thesis expression levels with curative potential across Michael Parini, Chief Executive Officer (formerly Chief - To deliver therapies for a broad pipeline a broad pipeline of systemic diseases; Administrat
Slide 30: Achilles Therapeutics
Achilles Therapeutics Differentiated cell therapy approach targeting Key management team Iraj Ali, Chief Executive Officer (formerly Syncona Partner) Investment thesis solid tumours utilising AI-enabled bioinformatics Karl Peggs, Founder and Chief Medical Officer - TILs have shown convincing efficac
Slide 31: Quell Therapeutics
Quell Therapeutics Engineered cell therapy company addressing Investment thesis Key management team - Potential pipeline to treat serious, immune dysregulation Iain McGill, Chief Executive Officer (formerly on the Executive chronic conditions mediated by the Board Seat 2 (inc. Chair) Committee and a
Slide 32: SwanBio Therapeutics
SwanBio Therapeutics Developing leading-edge gene therapies to Investment thesis deliver dramatic clinical efficacy for the - Gene therapy has the potential to be treatment of neurological diseases transformational in neurology Board Seat 2 (inc. Chair) - Lead programme targeting AMN*, an Key manage
Slide 33: Purespring Therapeutics
Purespring Therapeutics Advancing gene therapies for the treatment of Investment thesis chronic renal diseases that are currently poorly - A number of chronic kidney diseases addressed with existing treatments are poorly addressed by existing therapies, which are primarily based Board Seat 2 (inc. C
Slide 34: Neogene Therapeutics
Neogene Therapeutics Pioneering the development of next- Investment thesis generation, fully personalised engineered T - The company is developing an cell therapies for a broad spectrum of engineered T Cell Receptor (TCR) therapeutic approach for solid cancers tumours based on a patient’s own Board
Slide 35: Resolution Therapeutics
Resolution Therapeutics Developing macrophage cell therapies to Investment thesis repair inflammatory organ damage, including Key management team Edward Hodgkin, Chair & Chief Executive Officer (Syncona - An opportunity to create the leading treatment of end-stage chronic liver disease Partner) infl
Slide 36: OMass Therapeutics
OMass Therapeutics Using novel biochemistry techniques, native Investment thesis mass spectrometry and custom chemistry to - Opportunity to develop differentiated deliver novel medicines against highly small molecule drugs leveraging a validated but inadequately drugged targets, world-leading Native
Slide 37: Clade Therapeutics
Clade Therapeutics Key management team Harnessing iPSC immune cloaking and Chad Cowan, PhD, Chief Executive Officer, Co-Founder (previously Investment thesis Co-founded and CSO, Sana Biotechnology, Co-Founder, Head of differentiation platform technology to deliver Research CRISPR Therapeutics) - Cla
Slide 38: Appendix 4 – Sustainability
Appendix 4 – Sustainability
Slide 39: Delivering positive and sustainable impact
Delivering positive and sustainable impact - d − £4.2m donated to charity Our social impact − 19 portfolio company clinical trial sites across the UK − 900+ people employed by Syncona and its portfolio in the UK Responsible − Became a signatory to the UN Principles for Responsible Investment investo
Slide 40: The Syncona Foundation
The Syncona Foundation Supporting excellent charities that are meeting pressing needs within society, particularly those that are related to healthcare systems Focused on cancer, neuro-degenerative diseases, £40.6m Donations to charity since 20121 gene therapy. Alongside other health and society rel