REG - Syncona Limited - Martin Murphy to step down as Chair of SIML

SynconaAnnouncement

16/11/2023 07:00

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RNS Number : 6199T  Syncona Limited  16 November 2023

16 November 2023

Syncona Limited

 

Martin Murphy to step down as Chair of SIML

 

Syncona Ltd, (the "Company"), a leading life science investor, focused on
creating, building and scaling a portfolio of global leaders in life science,
today announces that Martin Murphy is stepping down as Chair of Syncona
Investment Management Limited (SIML) with Chris Hollowood taking on the role
of Interim Chair and Chief Executive Officer (CEO) of SIML. Martin will
continue to represent Syncona on the Boards of Autolus, Anaveon and Clade.

Martin co-founded Syncona with the Wellcome Trust in 2012. Since its
inception, Syncona has made a significant contribution to transforming the
life science ecosystem here in the UK, deploying £1.1bn across 22 companies,
taking one product to market, and three products to pivotal trials.

Syncona has made significant progress over the last 12 months in expanding its
senior team and establishing a new operating model. Roel Bulthuis joined as
Managing Partner and Head of Investments of SIML in April 2023, bringing over
20 years of life science venture capital, business development and investment
banking experience. Since joining, Roel has been responsible for managing the
investment team, as well as leveraging his experience and network to support
the delivery of Syncona's strategy. Within the new operating model, the
Executive Partner group is working effectively with the investment team and
across the portfolio to support them in navigating the development pathway.
Notably, John Tsai (previously Chief Medical Officer at Novartis) joined this
group during the period, bringing significant clinical, pharmaceutical and
leadership experience. He has since been working with a number of portfolio
companies including SwanBio Therapeutics (where he is Executive Chair)
Forcefield Therapeutics (where he has become CEO) and Mosaic Therapeutics.

The expanded senior team and operating model is now well embedded, and The
Board is confident that the evolution and expansion of the team will further
support the delivery of the Company's ambitious plans to scale and deliver our
£5 billion NAV target by 2032.

Melanie Gee, Chair of Syncona Limited said: "On behalf of the Board, I would
like to thank Martin for the pivotal role he has played in co-founding and
building Syncona into the business it is today. Martin's commitment to our
purpose, vision, patients and shareholders has been remarkable and I would
personally like to thank him for his dedication and partnership.

 

The Board are pleased with the strategic progress Syncona has made and with
how the senior team, led by Chris, are operating against a challenging market
backdrop with a continued focus on maximising value for our shareholders."

 

Chris Hollowood, Interim Chair and CEO of SIML, said: "We are hugely indebted
to Martin for all he has done in founding and building Syncona. During his
tenure, he has established a strong platform with a differentiated capital
structure, exciting portfolio and a team highly motivated to make a
difference. It has been a personal privilege to work alongside him in our
journey so far, and I am pleased we will continue to work together through his
work with his portfolio companies over the next few months."

 

Martin Murphy, outgoing Chair of SIML, said: "Since founding Syncona alongside
the Wellcome Trust in 2012, our business has changed the landscape for
ambitious life science company creation in the UK. As a direct consequence of
Syncona's action, many potential therapies have been taken from the academic
bench into the clinic on an industrial footing and the portfolio is now poised
to deliver patient benefit and, over the medium term, value creation.  I
would like to sincerely thank our shareholders, Melanie Gee and the Board,
along with Chris Hollowood and the wider Syncona team for their support, hard
work and commitment over the last decade and look forward to watching Syncona
continue its journey in the years to come."

Enquiries

 

Syncona Ltd

Annabel Clark / Fergus Witt

Tel: +44 (0) 20 3981 7940

 

FTI Consulting

Ben Atwell / Natalie Garland-Collins / Tim Stamper

Tel: +44 (0) 20 3727 1000

 

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.

 

This announcement includes information that is or may be inside information.
The person responsible for arranging for the release of this announcement on
behalf of Syncona Ltd is Alasdair Moodie, General Counsel, SIML.

 

Copies of this press release and other corporate information can be found on
the company website at: www.synconaltd.com (http://www.synconaltd.com/)
 Forward-looking statements - this announcement contains certain
forward-looking statements with respect to the portfolio of investments
of Syncona Limited. 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. In particular, many companies
in the Syncona Limited portfolio are conducting scientific research and
clinical trials where the outcome is inherently uncertain and there is
significant risk of negative results or adverse events arising. In addition,
many companies in the Syncona Limited portfolio have yet to commercialise a
product and their ability to do so may be affected by operational, commercial
and other risks.

 

Syncona Limited seeks to achieve returns over the long term. Investors should
seek to ensure they understand the risks and opportunities of an investment in
Syncona Limited, including the information in our published documentation,
before investing.

 

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