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Syncona Limited First Quarter Update 17 August 2021 Syncona Ltd , a leading healthcare company focused on founding , building and funding a portfolio of global leaders in life science , today issues its quarterly update covering the period from 31 March 2021 to 30 June 2021 . Martin Murphy , CEO , Syncona Investment Management Limited , said : " We are pleased with the continued positive clinical progress across our companies over the period with Anaveon dosing the first patient in its clinical programme and becoming Syncona's fifth clinical - stage business . Whilst we recognise that the share price performance of our listed holdings has brought volatility to NAV , we remain focused on delivering value over the long - term . Our portfolio is funded to deliver important clinical milestones , which are potential key value drivers for our business over the next 12-24 months . Our companies are executing on their business and clinical plans and we have a high level of conviction in their fundamentals . We also continue to seek a wide range of exciting new opportunities to found and invest in the next generation of globally leading life science businesses . " Strong clinical progress with five clinical - stage companies and positive data generation Freeline Therapeutics ( Freeline ) dosed a further patient in its second clinical programme in Fabry disease Autolus Therapeutics ( Autolus ) published further encouraging durability data in its AUTO1 programme for adult acute lymphoblastic leukaemia ( ALL ) and received innovative licensing and access pathway ( ILAP ) designation from the UK Medicines and Healthcare products Regulatory Agency ( MHRA ) for AUTO4 in Peripheral T Cell Lymphoma ( PTCL ) Anaveon dosed its first patient in a Phase I / II study of ANV419 , a selective interleukin - 2 ( IL - 2 ) agonist with the potential to target cancer , becoming Syncona's fifth clinical - stage company within its current portfolio SwanBio Therapeutics ( SwanBio ) commenced a natural history study , which will prospectively evaluate patients to assess the course of adrenomyeloneuropathy ( AMN ) and provide insights into potential endpoints and designs for future clinical trials . Financial performance impacted by performance of listed holdings ; portfolio funded to deliver key clinical data milestones Net assets of £ 1,200.4 million , 178.9p¹ per share , a NAV return of ( 7.7 ) per cent in the period Life science portfolio valued at £ 622.4 million ( 31 March 2021 : £ 722.1 million ) , a total return of ( 13.9 ) per cent in the quarter , driven by the decline in the share prices of Freeline and Achilles Therapeutics ( Achilles ) with a decrease in the value of these holdings of £ 110.9 million materially outweighing a £ 12.8 million valuation uplift from the appreciation of Autolus ’ share price Listed portfolio companies are funded to deliver further clinical data , which is the key driver of value ; share prices of the listed holdings have been volatile but Syncona is focused on the long term and remains confident in the companies ' fundamentals and recent progress Capital base of £ 578.0 million on 30 June 2021 New members of expanded senior leadership team operational Fiona Langton - Smith has been working alongside the senior leadership team as Chief Human Resources Officer bringing 20 years ' experience in Human Resources ; focusing on organisational development of Syncona and the portfolio Post - period end John Bradshaw retired , with Rolf Soderstrom now taking up the role of Chief Financial Officer , bringing 30 years ' experience from senior roles in finance , most recently at BTG plc² ¹ Fully diluted 2 Post period events are as at 31 July 2021