5 February 2025
Syncona
Limited
Achilles announces solvent
voluntary liquidation
Syncona Ltd ("Syncona"), a leading
life science investor focused on creating, building and scaling a
portfolio of global leaders in life science, notes that its
investment Achilles Therapeutics plc ("Achilles") has announced
that its Board has recommended to undertake a members' solvent
voluntary liquidation of Achilles and return capital to
shareholders. Key details include:
·
The Achilles Board has determined that it would be
in the best interests Achilles and its shareholders to put
proposals to shareholders to undertake a members' voluntary
liquidation of Achilles to return capital to
shareholders
·
Based on the information currently available to
Achilles and, if the shareholders approve the Proposals and
associated Resolutions, it is currently expected that the amount of
capital to be returned by the Joint Liquidators to ordinary
shareholders through the liquidation will be approximately £1.20 to
£1.32 per share or $1.50 to $1.66 per share[1].
· Syncona currently holds 11,086,909 American Depositary Shares
(ADSs), representing 11,086,909 ordinary shares in
Achilles
·
The general meeting is expected to take place at
2:00pm GMT on 20 March, with the initial distribution to
shareholders expected to take place 6-8 weeks later
As of 30 September 2024, Syncona's
holding value in Achilles was £8.5 million, equating to 0.7% of
Syncona's Net Asset Value.
Achilles' Form 6-K can be accessed
on the company's website at https://achillestx.com/.
Defined terms refer to language used within this filing.
Enquiries
Syncona Ltd
Natalie Garland-Collins / Fergus
Witt
Tel: +44 (0) 20 3981 7940
FTI
Consulting
Ben Atwell / Tim Stamper
Tel: +44 (0) 20 3727 1000
About Syncona
Syncona's purpose is to invest to
extend and enhance human life. We do this by creating, building and
scaling companies to deliver transformational treatments to
patients in areas of high unmet need.
We aim to build and maintain a
diversified portfolio of 20-25 globally leading life science
businesses, across development stage, modality and therapeutic
area, for the benefit of all our stakeholders. We focus on
developing treatments that deliver patient impact by working in
close partnership with world-class academic founders and
experienced management teams. Our balance sheet underpins our
strategy, enabling us to take a long-term view as we look to
improve the lives of patients with no or poor treatment options,
build sustainable life science companies and deliver strong
risk-adjusted returns to shareholders.
Forward-looking statements - this announcement contains
certain forward-looking statements with respect to the portfolio of
investments of Syncona Limited. These statements and forecasts
involve risk and uncertainty because they relate to events and
depend upon circumstances that may or may not occur in the future.
There are a number of factors that could cause actual results or
developments to differ materially from those expressed or implied
by these forward-looking statements. In particular, many companies
in the Syncona Limited portfolio are conducting scientific research
and clinical trials where the outcome is inherently uncertain and
there is significant risk of negative results or adverse events
arising. In addition, many companies in the Syncona Limited
portfolio have yet to commercialise a product and their ability to
do so may be affected by operational, commercial and other
risks.
Syncona Limited seeks to achieve returns over the long term.
Investors should seek to ensure they understand the risks and
opportunities of an investment in Syncona Limited, including the
information in our published documentation, before
investing.
