Press release

Launch of Syncona Partners

Syncona Partners LLP (“Syncona”), a new evergreen investment company, was launched today. The Wellcome Trust, which announced the initiative as Project Sigma in March 2012, has provided initial capital of £200m.

Syncona will take a long-term view towards the creation of sustainable healthcare businesses. Its structure allows it to support partner companies as they grow and succeed. Ultimately, its aim is to hold investments in a small number of significant, profitable businesses that have transformed their healthcare markets.

Syncona will support healthcare products (devices, therapeutics, diagnostics and IT), services and business models. It will invest on a global basis with an amount of capital appropriate for each opportunity: investments will usually range from £1 million to £20 million per company. Syncona will support early- and late-stage companies, as a majority investor or as part of a syndicate.

A founding team of five executives is in place. Martin Murphy, Iraj Ali, John Bradshaw, Chris Hollowood and James Peach bring a range of skills and domain knowledge that will allow Syncona to be a valuable partner for inventors, entrepreneurs, companies and syndicate investors. The team also draws on the resources of its seven-member board led by Nigel Keen, Chairman.

Commenting on the launch of Syncona, Dr Martin Murphy, Chief Executive, said: "We expect to play our part in building successful businesses based upon innovation within the life science and healthcare industry. We very much look forward to working with entrepreneurs, leading academics and inventors to build success stories in the UK, Europe and beyond."