Syncona Ltd GBP · LSE:SYNC
Syncona Ltd GBP — Syncona — Investor Presentation (March 2022)
50 slides from Syncona Ltd GBP's investor presentation, March 2022
Slide 1: Investing to extend and enhance human life
Investing to extend and enhance human life Syncona corporate presentation March 2022 synconaltd.com
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: The Syncona platform
The Syncona platform
Slide 4: Building the next generation of healthcare leaders
Building the next generation of healthcare leaders Founded in 2012 by The Wellcome Trust, our purpose is to invest to extend and enhance human life Globally significant Focus on products Founding companies Long-term, scientific research and patients with strategic ambitious capital base ownership Le
Slide 5: Capturing the out return in life science
Capturing the out return in life science +10 years Strategy designed to deliver strong risk adjusted returns for shareholders Traditional Syncona target Venture window Capital target exit window Out return in life science weighted towards late development and product approval: Value • Set companies
Slide 6: Executing a differentiated strategy
Executing a differentiated strategy 10 year targets Found Build Fund 2-3 new portfolio Proactively source Leverage expertise and Scale ambitiously, maintain companies p.a. globally competitive science, track record using Syncona significant ownership leveraging UK opportunity resource to drive succe
Slide 7: Continuing to build the next generation of healthcare leaders
Continuing to build the next generation of healthcare leaders Significant progress across the portfolio Strong clinical Diversified portfolio Positive momentum - Sale of Gyroscope progress across our well positioned to drive companies accessing represents Syncona portfolio value capital model in act
Slide 8: Gyroscope is third successful exit for Syncona
Gyroscope is third successful exit for Syncona Early investment in platform creates significant value for Syncona shareholders Gyroscope was founded by Syncona in 2016; Syncona Top 10 UK biotech exits1 syndicated to co-investors at Series C stage, raising $148m in March 2021 and Sanofi committed up
Slide 9: Market context
Market context
Slide 10: The promise of precision medicine
The promise of precision medicine Enables faster development, smaller, more capital efficient clinical trials and targeted commercial roll-out 30-60% A traditional drug may only be 30- 60% effective1 ‒ Traditional drug development can lead to ineffective drug development; it assumes all patients res
Slide 11: Dramatic potential of third wave therapies
Dramatic potential of third wave therapies Beyond mRNA vaccines there has been significant progress in developing other disruptive technologies – particularly in the fields of cell and gene therapy 10k 8 monogenicdiseases, very Cell and gene few with treatments1 therapies approved in the US3 “First
Slide 12: 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 44% of patients alive at four years post treatment2 3x overall survival rate of current standard of care at 12 Diffuse Large B-cell Lymphoma months3 Designed to halt a disease or re
Slide 13: 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 14: Our portfolio
v ‘ Our portfolio —
Slide 15: A differentiated portfolio
A differentiated portfolio Offering the potential for transformational efficacy in areas of high unmet medical need Cell therapy Gene therapy Engineered AAV gene therapy Biologics − Focused on key cell types and T-cell biology − Operating in key tissue compartments baked by − T-cell immunotherapy -
Slide 16: Diversified across the development cycle
Diversified across the development cycle Four at clinical stage, with a further three expected to Cell therapy Biologics enter the clinic in 2022 Gene therapy Small molecule Pre-clinical Phase I/II Phase III/Pivotal BLA* Launch % of portfolio invested in underlying 2023 CAR-T domain areas** Neo-anti
Slide 17: Significant value creation opportunity ahead
Significant value creation opportunity ahead Positive clinical data drives value but is not without risk Increasing value potential Company formation Preclinical Clinical Late Phase I/II and beyond Syncona Generation 1 3.1 c.2012 - 2014 Multiple of cost Syncona Generation 2 1.3 c.2015-2016 Multiple
Slide 18: Milestones in CY2022 with the potential to drive value
11 milestones in CY2022 with the potential to drive value Clinical stage Pre-clinical stage 2021 2022 2023 AUTO 1 Phase Ib pivotal data CY2022 CY 2023 Target BLA filing Upcoming clinical milestones AUTO1/22 Phase I data in H1 CY2022 CY2022 AUTO 4 Phase I data in H1 CY2022 Autolus – deliver Phase I d
Slide 19: Financials
Financials
Slide 20: Balance sheet strength is strategic and a key differentiator
Balance sheet strength is strategic and a key differentiator Life science companies requires significant Strong capital base is central to delivery of strategy and provides competitive capital as they scale advantage - Founding investors have the best ability to set strategy Syncona capital base1 -
Slide 21: NAV progression
NAV progression 31 December 2021 NAV of £1,340m (199p per Continued demonstration of value creation including third successful exit share) - 16% increase in Q4, 3% over nine months 600 30-Sep-21 Uplift 500 Two financings and sale of Gyroscope add Potential c.£218m to September 2021 NAV, partially of
Slide 22: Financial review
Financial review Clinical Pre-clinical Drug discovery Portfolio Fully diluted 30 Mar 2021 Net Valuation FX 31 Dec 2021 Valuation % of NAV of £1,339.7m, 199.3p per share, 2.9 company ownership % value £m (fair value) invested/returned in the period £m change movement value £m (fair value) basis (fair
Slide 23: Financing strategy
Financing strategy
Slide 24: Competing on a global scale requires significant capital
Competing on a global scale requires significant capital £m** 1200 Syncona 3rd Party 1000 - £2.6bn* raised by Syncona companies - £903m committed by Syncona 800 - Strong balance sheet enables us to invest in our companies over the long-term 600 - As companies scale and enter the clinic significant c
Slide 25: Optimising our financing approach to deliver on our strategy
Optimising our financing approach to deliver on our strategy Providing our shareholders with exposure to a set of high growth companies, both private and public Our financing approach involves supporting our companies to take one of two core strategies: Solely fund companies Strategy in action 1 thr
Slide 26: Summary
Summary
Slide 27: Summary
Summary Syncona’s platform creates value from the commercialisation of life science innovation CURRENT PORTOLIO ROLLING 10 YEAR TARGETS Syncona continues to illustrate its model in action, founding, building and funding companies with the potential to deliver 18Portfolio companies 3 Companies sold s
Slide 28: Appendix – Syncona team and platform
Appendix 1 – Syncona team and platform
Slide 29: An expert multi-disciplinary team
An expert multi- disciplinary team Our unique skill set Scientific Commercial Company creation Investment Martin Murphy 1,2 Chris Hollowood 1 Markus John Co-founder and CEO CIO CMO, Head of R&D PhD PhD MD Purespring 21 years’ experience 20 years’ experience 21 years’ experience Ben Woolven Elisa Pet
Slide 30: Sourcing technology in growing areas has led to multiple Syncona companies
Sourcing technology in growing areas has led to multiple Syncona companies and investments \\\\ \\\\ \\\\ \\\\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\ \\\\\\ Cell therapy: T-cell biology & Gene therapy: companies covering the Radiotherapy companies immuno-oncology key tissue compartments covering key cell ty
Slide 31: Syncona platform: a growing competitive advantage
Syncona platform: a growing competitive advantage Platform enables rapid translation of basic scientific research into companies with the potential to be global leaders - Ability to identify a compelling new - Increased capability, expertise and network to area of science where a support company bui
Slide 32: What is cell and gene therapy?
What is cell and gene therapy? Offering the potential for cures for a range of intractable diseases Cell therapy Ex vivo gene therapy In vivo gene therapy Cells cultivated or modified outside the Uses host cells engineered to The insertion of genes via a carrier, like an body before being injected i
Slide 33: Capturing value in cell and gene therapy
Capturing value in cell and gene therapy Historically meaningful increase in valuations for Pivotal / Phase 3 versus Phase 1/2 $1bn+ acquisition targets typically have common characteristics: − At or near market and/or have proof of concept data − Large potential market opportunity and/or pipeline o
Slide 34: Appendix – Sustainability
Appendix 2 – Sustainability
Slide 35: Our approach to sustainability
Our approach to sustainability Read our Sustainability Syncona is committed to managing its business and portfolio sustainably and responsibly. Report at synconaltd.com Our Sustainability Policy focuses on four key areas that align with the UN Sustainable Development Goals (SDGs) Responsible Inspiri
Slide 36: A responsible investor and partner
A responsible investor and partner Seeking to integrate the management of sustainability issues into our investment process and across our portfolio Responsible investor and partner 1 Governance and compliance Initial screen 2 Good R&D Practice − Focus on transformational impacts for patients We pla
Slide 37: 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, £36.4m Donations since 20121 gene therapy. Alongside other health and society related areas
Slide 38: Appendix – Portfolio companies
Appendix 3 – Portfolio companies
Slide 39: Portfolio company outlook
Portfolio company outlook Strong momentum in the portfolio with near term catalysts Company Status of pipelines Next steps Three programmes across four clinical trials - Progress pivotal study AUTO1 / Adult ALL, with data in CY2022 - Publish clinical data on AUTO1/22 / paediatric ALL in H1 CY2022 -
Slide 40: Autolus Therapeutics
Autolus Therapeutics Applying a broad range of technologies to build Investment thesis a pipeline of precisely targeted T cell therapies - No CAR-T therapy approved for adult designed to better recognise and attack cancer ALL patients Board Seat 1 Key management team - AUTO1 has a differentiated saf
Slide 41: Freeline Therapeutics
Freeline Therapeutics Seeking to deliver constant high protein expression Key management team Investment thesis levels with curative potential across a broad pipeline of Michael Parini, CEO (former Chief Administrative, Legal and - To deliver therapies for a broad pipeline systemic diseases; opportu
Slide 42: Achilles Therapeutics
Achilles Therapeutics Differentiated cell therapy approach targeting Key management team Iraj Ali, Chief Executive (former Syncona Partner) Investment thesis solid tumours utilising bioinformatics and TILs Karl Peggs, Founder and Chief Medical Officer - TILs have shown convincing efficacy in to targ
Slide 43: Anaveon Therapeutics
Anaveon Therapeutics 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 to improved administration and toxicity create safe and effective treatments for various burde
Slide 44: 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 - Lead programme targeting AMN*, an Board Seat 2 (inc. Chair) Key manage
Slide 45: Quell Therapeutics
Quell Therapeutics Engineered cell therapy company addressing Investment thesis Key management team immune dysregulation Iain McGill, CEO (formerly on the Executive Committee and as Head of - Current standard of care for prevention Europe and Rest of World for Jazz Pharmaceuticals) of solid organ tr
Slide 46: OMass Therapeutics
OMass Therapeutics Using novel biochemistry techniques, native mass Investment thesis spectrometry and custom chemistry to deliver novel - Opportunity to develop differentiated medicines against highly validated but inadequately small molecule drugs leveraging a drugged targets, with a focus on immu
Slide 47: Resolution
Resolution Developing macrophage cell therapies to Investment thesis repair inflammatory organ damage, including - An opportunity to create the leading treatment of end-stage chronic liver disease. inflammation-focused macrophage cell Key management team therapy business, focusing initially on Ed Ho
Slide 48: Purespring
Purespring 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 Key management team around the lo
Slide 49: Neogene
Neogene Building a differentiated small molecule Investment thesis portfolio based on a unique drug discovery - The company is developing an platform leveraging native Mass Spectrometry. engineered T Cell Receptor (TCR) therapeutic approach for solid tumours based on a patient’s own Key management t
Slide 50: Clade Therapeutics
Harnessing iPSC immune cloaking and Clade was founded by a world-class team of company builders differentiation platform technology to deliver and scientific innovators with an unparalleled expertise in ‘off-the-shelf’ cell therapies generating stem cell derived immune therapies Founded by CEO Dr. C