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Synocna (SYNC) shares surge on £1.5bn Gyroscope sale to Novartis

By Adrian Holliday


Photo of needle tracing computer image
Syncona is selling gene-therapy business Gyroscope to Novartis – Photo: Shutterstock

Syncona shares leapt more than 8% this morning to 216.75p on the news Swiss drug maker Novartis is buying gene-therapy business Gyroscope Therapeutics from Syncona for as much as $1.5bn.

Novartis shares were down 0.53% this morning at CHF0.42 though Syncona shares still remain some distance off their 272.00p year high.

The Novartis deal has been agreed with an $800m cash payment and up to $700m in cash, dependent “upon the achievement of certain milestones”.

55% return on investment

There’s further benefit for Syncona on future sales royalties inked into the deal for the portfolio company. 

Syncona’s chief investment officer Chris Hollowood said Novartis had “an extensive track record in gene therapy and ophthalmology and are ideally placed to complete the journey of taking this transformational therapy to patients”.


39,787.70 Price
+0.440% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


2,072.25 Price
+1.760% 1D Chg, %
Long position overnight fee -0.0193%
Short position overnight fee 0.0111%
Overnight fee time 22:00 (UTC)
Spread 0.30

Oil - Crude

74.50 Price
-1.560% 1D Chg, %
Long position overnight fee -0.0136%
Short position overnight fee -0.0083%
Overnight fee time 22:00 (UTC)
Spread 0.040


0.63 Price
+0.100% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Gyroscope was co-founded by Syncona more than five years ago and the life-sciences business says the sale has brought a 55% return on its investment.

In this time Gyroscope has been taken “from a concept to a potential treatment for geographic atrophy secondary to AMD [age-related macular degeneration], a leading cause of blindness with no approved therapies”, added Hollowood. 

“Gyroscope is now an international company with world-class management, positive clinical data, proprietary surgical and manufacturing platforms, and a team of nearly 200 people,” he says.

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Markets in this article

Novartis - CHF
85.60 USD
0.15 +0.180%
1.2795 USD
1.2795 USD

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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