- BioNTech will purchase $200 million of Autolus ADS
- Syncona will retain a stake of around 11.8 percent
- The offering is expected to close on 12 February
Autolus Therapeutics, a portfolio company of Syncona, has priced an offering of over 58 million of American Depositary Shares at 600c each, raising gross proceeds of $350 million.
Autolus is a clinical-stage biopharmaceutical company developing next-generation, programmed T cell therapies for cancer treatment.
The company has also agreed to partner with BioNTech, an immunotherapy company, to commercialise its CAR-T programmes. BioNTech will purchase $200 million of Autolus’ ADS in a private placement. BioNTech will make a cash payment of $50 million and be granted several rights related to research, royalties and licencing.
Syncona will retain a stake of around 11.8 percent in Autolus. The stake was valued at £167.8 million at close of business on 7 February.
BioNTech will have a right to appoint a director to Autolus’ board.
“The company is now well funded to deliver obe-cel’s path in r/r adult acute lymphoblastic leukaemia and will be able to accelerate its oncology pipeline programmes and broaden the use of Autolus’ technology into autoimmune indications,” said Chris Hollowood, CEO of Syncona.
The transaction is expected to close on 12 February, subject to customary closing conditions.
Syncona is a life science investor based in London.
BioNTech is based in Mainz, Germany.