REG - Syncona Limited - Autolus announces pricing of public offering

SynconaAnnouncement

09/12/2022 07:00

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RNS Number : 1935J  Syncona Limited  09 December 2022

Syncona Limited

 

Autolus announces pricing of public offering

 

09 December 2022

 

Syncona Ltd, a leading healthcare company focused on creating, building and
scaling global leaders in life science, notes that its portfolio company,
Autolus Therapeutics plc ("Autolus") today announced the pricing of its
underwritten public offering in the United States of 75,000,000 American
Depositary Shares ("ADSs") representing 75,000,000 ordinary shares, at a
public offering price of $2.00 per ADS, for total gross proceeds of
approximately $150.0 million (£122.5 million) 1  (#_ftn1) . All ADSs sold in
the offering were offered by Autolus. Autolus also granted the underwriters a
30-day option to purchase up to an additional 11,250,000 ADSs at the public
offering price, less underwriting discounts and commissions.

 

Syncona has agreed to invest approximately $28.0 million (£22.9 million) in
the offering. Following the offering, Syncona retains a stake of approximately
18.5% in Autolus (amounting to 33,527,163 ordinary shares) which was valued at
£54.8 million according to the offering price on 8 December 2022.

 

Martin Murphy, Chief Executive Officer and Chair of Syncona Investment
Management Limited, said, "We are delighted that Autolus has met its primary
endpoint in its pivotal FELIX trial for adult ALL and are pleased to invest
further in the business as it progresses towards a planned BLA submission in
2023. The company's exciting data and today's financing exemplifies the
Syncona model in action - leveraging our strong balance sheet to fund our
companies as they progress towards late-stage clinical development and
generate exciting data. We will continue to work closely with the Autolus
leadership team as it moves towards delivering a product to patients that we
believe will have a potentially transformative impact."

 

This announcement 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 are being offered pursuant to an effective shelf registration
statement that was previously filed with the U.S. Securities and Exchange
Commission ("SEC"). A preliminary prospectus supplement to the prospectus
describing the terms of the offering was filed with the SEC on 8 December,
2022, and a final prospectus supplement will be filed with the SEC. The
offering will be made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement, which, for the
avoidance of doubt, will not constitute a "prospectus" for the purposes of the
Regulation (EU) 2017/1129 and has not been reviewed by any competent authority
in any member state in the European Economic Area. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to the offering
may be obtained for free from either of the joint book-running managers for
the offering, Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone
at +1 877 821 7388 or by email at Prospectus_Department@Jefferies.com; William
Blair & Company, L.L.C., Attention: Prospectus Department, 150 North
Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by
email at prospectus@williamblair.com; or Wells Fargo Securities, LLC,
Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New
York, 10001, at (800) 326-5897 or email a request to
cmclientsupport@wellsfargo.com.

 ENDS 

Enquiries

Syncona Ltd

 

Annabel Clark / Fergus Witt

Tel: +44 (0) 20 3981 7940

 

FTI Consulting

 

Ben Atwell / Natalie Garland-Collins / Julia Bradshaw / Tim Stamper

Tel: +44 (0) 20 3727 1000

 

 

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's purpose is to invest to extend and enhance human life. We do this by
creating and building companies to deliver transformational treatments to
patients in areas of high unmet need.

Our strategy is to create, build and scale companies around exceptional
science to create a diversified portfolio of 20-25 globally leading healthcare
businesses, across development stage and therapeutic areas, for the benefit of
all our stakeholders. We focus on developing treatments for patients by
working in close partnership with world-class academic founders and 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.

 

 

About Autolus

 

Autolus is a clinical-stage biopharmaceutical company developing
next-generation, programmed T cell therapies for the treatment of cancer.
Using a broad suite of proprietary and modular T cell programming
technologies, Autolus is engineering precisely targeted, controlled and highly
active T cell therapies that are designed to better recognize cancer cells,
break down their defense mechanisms and eliminate these cells. Autolus has a
pipeline of product candidates in development for the treatment of
hematological malignancies and solid tumors. For more information, please
visit www.autolus.com.

 1  (#_ftnref1) At exchange rate on 08 December 2022

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