Syncona Limited Nightstar announces closing of IPO

 
TIDMSYNC 
 
Syncona Limited 
 
                      Nightstar announces closing of IPO 
 
3 October 2017 
 
Syncona Ltd ("Syncona"), a leading healthcare company focused on investing in 
and building global leaders in life science, today notes that its portfolio 
company Nightstar Therapeutics plc (??Nightstar") has today 
announced the closing of its previously announced initial public offering in 
the United States of 6,164,000 American Depositary Shares ("ADSs") representing 
6,164,000 ordinary shares, at an initial public offering price of $14.00, which 
includes an additional 804,000 ADSs issued upon the exercise in full by the 
underwriters of their option to purchase additional ADSs. All of the ADSs were 
offered by Nightstar. 
 
Following completion, Syncona retains a stake of 42.2 per cent in Nightstar 
(amounting to 12,203,922 ordinary shares/ADSs), which was valued at GBP174.6m at 
close of business on 29 September 2017.[1] 
 
This press release does not constitute an offer to sell or the solicitation of 
an offer to buy securities, and shall not constitute an offer, solicitation or 
sale in any jurisdiction in which such offer, solicitation or sale would be 
unlawful prior to registration or qualification under the securities laws of 
that jurisdiction. 
 
 
 [ENDS] 
 
 
Enquiries 
 
 
Syncona Ltd 
Siobhan Weaver 
Tel: [phone] 
 
Tulchan Communications 
Martin Robinson 
Lisa Jarrett-Kerr 
Tel: [phone] 
 
 
Copies of this press release and other corporate information can be found on 
the company website at: www.synconaltd.com 
 
Forward-looking statements - this announcement contains certain forward-looking 
statements with respect to the portfolio of investments of Syncona Ltd. 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 and forecasts. Nothing in this announcement should be construed as a 
profit forecast. 
 
About Syncona: 
 
Syncona is a leading FTSE250 healthcare company focused on investing in and 
building global leaders in life science. Our vision is to deliver 
transformational treatments to patients in truly innovative areas of healthcare 
while generating superior returns for shareholders. Our current investment 
portfolio consists of seven high quality companies in life science and a 
leading range of fund investments. 
 
We seek to partner with the best, brightest and most ambitious minds in science 
to build globally competitive businesses. We are established leaders in gene 
therapy, cell therapy and advanced diagnostics, and focus on delivering 
dramatic efficacy for patients in areas of high unmet need. 
 
Our market leading funds portfolio seeks to generate superior returns by 
investing in long only and alternative investment funds. This represents a 
productively deployed evergreen funding base which enables us to take a long 
term approach to investing in life sciences as we target the best new 
opportunities and support our existing portfolio companies to grow and succeed. 
 
Syncona is aligned with two of the premium charitable funders in UK science, 
the Wellcome Trust, original founder of Syncona, and Cancer Research UK, both 
of which are significant shareholders in our business.  We make a donation of 
0.3% of Net Asset Value to a range of charities each year. 
 
About Nightstar: 
 
Nightstar is a leading clinical-stage gene therapy company focused on 
developing and commercializing novel one-time treatments for patients suffering 
from rare inherited retinal diseases that would otherwise progress to 
blindness. 
 
About Gene therapy: 
 
Genetic diseases are caused by absent or mutated versions of genes. Gene 
Therapy involves treating a subset of these diseases by delivering a normal 
copy of the gene to the cells to replace missing or defective ones in order to 
correct the genetic disorder. There are more than 250 monogenic diseases of the 
eye which are known to result in blindness. The retina, at the back of the eye, 
is ideally suited to gene therapy as it is easily accessible and can be viewed 
during surgery. Delivering the normal gene to dysfunctional cells of the retina 
may enable the cells to function normally, potentially restoring or retaining 
vision. 
 
[1] As at exchange rates on 29 September 2017 
 
 
 
END 
 

(END) Dow Jones Newswires

October 03, 2017 02:00 ET (06:00 GMT)