Wellcome biotech investment company set to expand

Syncona, an independent subsidiary of the Wellcome Trust set up to support biotech start-ups, is to join forces with a leading investment company.

In a proposal announced on 7 November, Wellcome said that the merger would create a company worth £1 billion if listed on the London Stock Exchange.

Under the proposed merger, Syncona would join forces with BACIT—a listed investment company with approximately £500m of assets. Wellcome will own 30 to 35 per cent of the shares in the new company.