Syncona Ltd on Friday said one of its investments Achilles Therapeutics PLC has sold its technology assets to AstraZeneca PLC for $12 million.
Syncona is a London-based investor in life science companies. Achilles Therapeutics is an investee of Syncona and a clinical-stage biopharmaceutical company.
Achilles said it will transfer the commercial license of data and samples from the Tracerx non-small cell lung cancer study to AstraZeneca.
AZ will also take over as sponsor of the company’s material acquisition platform and receive tumour samples and data.
Achilles plans other measures including a further reduction in employee headcount and a decrease in the size of its board.
Syncona said its holding value in Achilles was £8.5 million on September 30, around 0.7% of Syncona’s net asset value.
Achilles said the sale completes its strategic review announced in September 2024.
Shares in Syncona were up 1.0% to 103.60 pence in London on Friday morning. AstraZeneca was down 0.4% to 10,398.00 pence per share.
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