Share Prices & Company Research

Market News

31 Mar 2021 | 07:41

Achilles Therapeutics prices IPO at $175m as Syncona keeps 27% stake

(Sharecast News) - Syncona portfolio biopharma company Achilles Therapeutics said its US initial public offering (IPO) will raise $175.5m (£127.8mln). Achilles, which is developing precision T cell therapies to treat solid tumours, will place 9.7m American depositary shares (ADS) on the Nasdaq exchange at $18 each. Trading is expected to start on Wednesday.

Syncona said it would retain a 27% stake in Achilles worth £145.4mln after the float, a £50.6m rise in value since it first invested.

"Today's milestone is a significant achievement for Achilles as it seeks to deliver its ambition of bringing neo-antigen targeted T-cell therapies to cancer patients," said Syncona investment management chief executive Martin Murphy.

"It comes less than five years after Syncona's first investment at the foundation of the company and we look forward to seeing the company's continued progress."
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.