Syncona (SYNC) Corporate presentation summary

Investment strategy and approach

• Focuses on building healthcare companies around frontier science with long-term, hands-on involvement and evergreen capital.

• Prioritizes high-impact products in late-stage development, targeting areas of high unmet medical need.

• Maintains strategic influence through board roles and significant shareholdings.

• Differentiated model involves creating, building, and scaling companies to global leadership.

Portfolio performance and value creation

• Generated approximately £1bn in exit proceeds at a 51% aggregate IRR and 2.7x cost.

• Notable exits include Blue Earth Therapeutics (83% IRR, 9.9x cost), Nightstar Therapeutics (71% IRR, 4.5x cost), and Gyroscope (50% IRR, 2.9x cost).

• Portfolio companies have achieved significant patient impact, with two approved products and 51 clinical trials since inception.

• Over 165,000 patients diagnosed using Blue Earth's Axumin product.

• £3.7bn raised for UK-based companies, including four NASDAQ IPOs.

Portfolio composition and diversification

• 86% of portfolio value is in commercial, late-stage clinical, and clinical-stage companies as of 2026.

• Therapeutic areas include metabolic (42%), ophthalmology (21%), autoimmune & inflammation (21%), and oncology (12%).

• Modalities diversified across biologics, gene therapy, cell therapy, small molecules, and platforms.

• Portfolio rebalanced from 31% clinical stage in 2022 to 86% clinical and commercial stage in 2026.