Syncona (SYNC) was launched in 2012 as BACIT (Battle Against Cancer Investment Trust). It initially invested in a range of investment funds but in 2016, it acquired a life sciences investment business set up by The Wellcome Trust and renamed itself Syncona. Wellcome Trust sold a quarter of its stake in 2019 but still owns 186m shares giving it a holding of just under 30%. Syncona is looking to build a portfolio of around 20-25 UK and European-based life sciences businesses, creating two to three new businesses each year. Three major sales have occurred to date, two in 2019 and one in 2023, bri...