JOHN COLLINGRIDGE: INSIDE THE CITY

Healing angel Syncona is taking flight

Syncona’s seven core biotech companies span gene, cell and DNA therapy
Syncona’s seven core biotech companies span gene, cell and DNA therapy
ALAMY

Regulators in America made history just over a month ago. They approved a new drug that, for the first time, uses leukaemia patients’ own cells to fight cancer. The drug, Kymriah, comes with a hefty price tag: $475,000 (£355,000) per course.

Novartis’s innovative treatment is one of a wave of drugs promising to revolutionise medicine. Syncona, an investment firm that joined the stock market last year, has a growing presence in this sector.

A rare beast on the FTSE, it is both a fund of funds and a direct investor in promising biotech companies. Syncona joined the market when it reversed into the investment fund BACIT with backing from the Wellcome Trust, which has a 37% stake.

Syncona is run by Martin Murphy, a former