StockMarketWire.com - Healthcare and life science investor Syncona delivered an upbeat outlook in its half year results for the six months ending 30 September 2020.

The group said net assets had risen 9.6 percentage points from £1.25 billion as at the end of March 2020 to £1.37 billion as the end of September, with the company's life science portfolio growing from £479.5 million to £666.6 million over the same period.

'Syncona has delivered a robust performance, underpinned by a strong balance sheet and disciplined capital allocation,' said Martin Murphy, chief executive officer of Syncona Investment Management.

The strong performance during the period was driven by an increase in the share price of Autolus Therapeutics and a write-up of Freeline Therapeutics following its recent Series C financing and listing on Nasdaq.

Murphy added that the Syncona Investment Management has recently founded and invested in two additional new companies with ambitions to deliver transformational treatments to patients.

He added: 'We also made an investment in an exceptional emerging cell therapy company and continued to invest and support our portfolio companies as they achieved key clinical and financial milestones, despite the unprecedented backdrop of the COVID-19 pandemic.

'Driven by our purpose to invest to extend and enhance human life, we remain focused on the long-term as we seek to build a dynamic portfolio of 15-20 companies in innovative areas of healthcare.'


At 9:35am: [LON:SYNC] Syncona Limited share price was 0p at 278p



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