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Syncona expects portfolio companies to delay clinical trials due to Covid-19

By BFN News | 08:00 AM | Monday 23 March, 2020


Healthcare company investor Syncona said it expected its portfolio companies' clinical trials to be delayed due to the coronavirus outbreak. 'While it is hard to forecast the precise impact, we would anticipate delays to a number of our clinical stage programmes of at least three months,' chief executive Martin Murphy said. Murphy said the company was supportive of moves by companies to focus their resources on managing Covid-19 patient, while delaying certain elective procedures and clinical trials. 'Our capital base of approximately £780 million provides us with a differentiated ability to fund our companies through a prolonged period of widespread disruption and diligence new opportunities,' he added. 'While Covid-19 represents an unparalleled challenge to the public health system, it is important to remember that the need for medicines in other diseases continues undiminished and, once the COVID-19 situation has stabilised, clinical development activity will continue.' 'With Syncona's support, our companies are well positioned to be resilient over the longer term as they look to realise their ambitions and our vision to deliver transformational treatments to patients in areas of high unmet medical need.' At 8:00am: (LON:SYNC) Syncona Limited share price was -6.3p at 186.1p Story provided by StockMarketWire.com

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