- Life sciences company investor Syncona said it posted a positive return in the June quarter amid an increase in the value of its portfolio companies.

The company's net asset value return for the three months through June was 13.5%, with net assets of £1.41bn, or 210.7p per share.

Syncona said it had completed due diligence on an opportunity derived from a collaboration agreement with the University of Edinburgh.

It was based on research into therapeutic uses of macrophages for the treatment of patients with end-stage liver disease.

'The effects of Covid-19 have had a profound impact on society and the way we work,' chief executive Martin Murphy said.

'It is too early to assess its long-term impact, but against this unprecedented backdrop, Syncona has performed robustly and the value of developing long term clinical solutions has never been clearer.'

'Our strong cash position and high calibre team, which we have enhanced during the quarter, continue to deliver and we are developing a pipeline of opportunities even as restrictions on travel and working practices remain.'

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