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Highlights:
- Syncona’s portfolio company, Achilles Therapeutics, sells assets to AstraZeneca for $12 million.
- AstraZeneca acquires commercial license and tumor data from the TRACERx® study.
- Syncona’s holding in Achilles valued at £8.5 million as of 30 September 2024.
Syncona Ltd, a leading life science investor, has announced that its portfolio company, Achilles Therapeutics, has successfully sold its technology assets to AstraZeneca. This marks the conclusion of the strategic review initiated in September 2024.
Key elements of the transaction include the transfer of the commercial license of data and samples from Achilles’ TRACERx® non-small cell lung cancer study to AstraZeneca. Additionally, AstraZeneca will take over as the sponsor of Achilles’ Material Acquisition Platform and receive tumor samples and data collected thus far. For these assets, AstraZeneca has agreed to pay Achilles a total of $12 million.
Following this transaction, Achilles plans to implement further strategic measures, including a reduction in its employee headcount and a decrease in the size of its Board of Directors. As of 30 September 2024, Syncona’s holding in Achilles was valued at £8.5 million, representing 0.7% of Syncona's Net Asset Value.
This transaction underscores Syncona’s commitment to supporting its portfolio companies in realizing strategic value, further enhancing its position in the global life science sector.
