Syncona Limited Update on Nightstar proposed NASDAQ IPO

 
TIDMSYNC 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSE OF ARTICLE 7 OF 
                 THE MARKET ABUSE REGULATION (EU) NO.596/2014 
 
                                Syncona Limited 
 
                    Update on Nightstar proposed NASDAQ IPO 
 
15 September 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 NightstaRx Limited (which has been reorganised as Nightstar 
Therapeutics plc) ("Nightstar") has filed an amended Form F-1 with the U.S. 
Securities and Exchange Commission in respect of its proposed initial public 
offering ("IPO") in the United States of its American Depositary Shares 
("ADSs") representing ordinary shares (available on the SEC's EDGAR database). 
 
The amended Form F-1 filing states an expected pricing range for the proposed 
IPO of US$13.00 - $15.00 per ADS, with each ADS representing one ordinary 
share. This would represent an increase in value of Syncona's current 
shareholding in Nightstar (compared to the 31 July 2017 sterling holding value) 
of GBP41.5 - GBP58.3 million[1] (6.3p-8.8p1 per Syncona share). 
 
Syncona has indicated an interest in purchasing ADSs in the IPO, subject to 
agreement with the underwriters. The proposed maximum aggregate offering amount 
specified in the filing is US$92.46 million, which assumes that the public 
offering price is at the top of the range and includes the 15% option to that 
is proposed to be granted to the underwriters to cover over-allotments.. 
 
A further announcement will be made in due course. 
 
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. 
 
The securities referred to in this release are to be offered only by means of a 
prospectus. When available, copies of the preliminary prospectus can be 
obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 
520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 
547-6340, or by email at [e-mail]; Leerink Partners 
LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, 
MA 02110, or by telephone at [phone] ext. 6132, or by email at 
[e-mail]; or BMO Capital Markets Corp., Attention: Equity 
Syndicate Department, 3 Times Square, New York, NY 10036, or by telephone at 
[phone], or by email at [e-mail]. 
 
[ENDS] 
 
Enquiries 
 
Syncona Ltd 
Siobhan Weaver 
Tel: [phone] 
 
Tulchan Communications 
Martin Robinson 
Tel: [phone] 
 
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. 
 
[1] As at 14 September 2017 foreign exchange rates 
 
 
 
END 
 

(END) Dow Jones Newswires

September 15, 2017 08:03 ET (12:03 GMT)