REG-Syncona Limited: Update on Autolus proposed IPO in the United States

SynconaAnnouncement

08/06/2018 11:40

 Syncona Limited

Update on Autolus proposed IPO in the United States

8 June 2018

Syncona Ltd, a leading healthcare company focused on investing in and building
global leaders in life science, today notes that its portfolio company Autolus
Therapeutics Limited (to be reorganised as Autolus Therapeutics plc)
(“Autolus”) has filed an amended registration statement on Form F-1 with
the U.S. Securities and Exchange Commission (the “SEC”) relating to a
proposed initial public offering in the United States of its American
Depositary Shares (“ADSs”), each ADS representing one ordinary share.

The registration statement discloses an indicative pricing range for the
proposed offering of U.S.$15.00 – U.S.$17.00 per ADS. This would represent
an increase in value of Syncona’s current shareholding in Autolus (compared
to the 30 April 2018 sterling holding value) of £49.5 – £67.7 million 1 
(7.4p-10.2p per Syncona share). The proposed maximum aggregate offering amount
specified in the filing is U.S.$125.0 million, which assumes that the offering
price is at the midpoint of the indicative pricing range and does not include
the underwriters’ option to purchase additional ADSs.

Syncona has indicated an interest in purchasing ADSs in the offering, subject
to agreement with the underwriters.

The registration statement can be accessed through the SEC’s EDGAR database.

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 referred to in this announcement are to be offered only by
means of a prospectus. When available, copies of the preliminary prospectus
can be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West
Street, New York, NY 10282, or by telephone at +1 866 471 2526 or by email at
prospectusgroup-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, or by telephone at + 1 877 547 6340, or by email at
Prospectus_Department@Jefferies.com. For the avoidance of doubt, such
prospectus will not constitute a "prospectus" for the purposes of Directive
2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the
extent implemented in each relevant EU member state) and will not have been
reviewed by any competent authority in any EU member state.

 ENDS 
Enquiries

Syncona Ltd
Siobhan Weaver
Tel: +44 (0) 20 7611 2031

Tulchan Communications
Martin Robinson
Lisa Jarrett-Kerr
Tel: +44 (0) 207 353 4200
 

This announcement includes information that is inside information as defined
in Article 7 of the Market Abuse Regulation (EU) No.596/2014. The person
responsible for arranging for the release of this announcement on behalf of
Syncona Ltd is Andrew Cossar, General Counsel, SIML.

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 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 fund investments represent 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 Autolus

Autolus is a biopharmaceutical company developing next-generation programmed T
cell therapies for the treatment of cancer.

 1  At exchange rates on 7 June 2018 



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