ARTICLE | Financial News

Syncona pooling resources with U.K. cancer investors

November 8, 2016 12:55 AM UTC

The Syncona investment arm of the Wellcome Trust and cancer-focused investment firm BACIT Ltd. (LSE:BACT) proposed a deal in which they would combine to form a publicly traded life sciences investment company with about L1 billion ($1.2 billion) in managed assets. Cancer Research UK would also be a shareholder.

Syncona said the new company would retain its name and would follow its existing investment strategy, taking "an active role in creating and building standalone life science companies." Spokesperson Doug Campbell told BioCentury the new company will focus on U.K. life sciences companies and direct at least 25% of investments to oncology...