Autolus announces closing of public offering

Syncona Limited

Autolus announces closing of public offering

16 April 2019

Syncona Ltd, a leading healthcare company focused on founding, building and funding global leaders in life science, notes that its portfolio company, Autolus Therapeutics plc ("Autolus") has announced the closing of its previously announced underwritten public offering in the United States of 4,830,000 American Depositary Shares ("ADSs") representing 4,830,000 ordinary shares, at a public offering price of $24.00 per ADS,  which includes an additional 630,000 ADSs issued upon the exercise in full of the underwriters' option to purchase additional ADSs.  Aggregate net proceeds to Autolus, after underwriting discounts but before estimated offering expenses, were $109.0 million. All of the ADSs were offered by Autolus.

Syncona agreed to invest $24 million (£18.3 million[1]) in the offering. Following the offering, Syncona retains a stake of 30.0% in Autolus (amounting to 14,592,098 ordinary shares) which was valued at £311.8 million at close of business on 15 April 2019.

The offering was made only by means of a prospectus. The final prospectus related to the offering was filed with the U.S. Securities and Exchange Commission (the "SEC").  Copies of the final prospectus can be obtained from either of the joint book-running managers for the offering, Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at +1 866 471 2526 or by email at Prospectus-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at + 1 877 821 7388 or by email at Prospectus_Department@Jefferies.com. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in each relevant EU member state) and will not have been reviewed by any competent authority in any EU member state.

A registration statement on Form F-1 relating to these securities was declared effective by the SEC on April 10, 2019. The registration statement can be accessed through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

 [ENDS]

Enquiries

Syncona Ltd

Annabel Clay / Siobhan Weaver

Tel: +44 (0) 20 3981 7940

FTI Consulting

Brett Pollard / Natalie Garland-Collins

Tel: +44 (0) 20 3727 1000

Forward-looking statements - this announcement contains certain forward-looking statements with respect to the portfolio of investments of Syncona Ltd. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast.

About Syncona

Syncona is a leading FTSE250 healthcare company focused on founding, building and funding global leaders in life science. Our vision is to deliver transformational treatments to patients in truly innovative areas of healthcare while generating superior returns for shareholders.

We seek to partner with the best, brightest and most ambitious minds in science to build globally competitive businesses.

We take a long-term view, underpinned by a deep pool of capital, and are established leaders in gene and cell therapy. We focus on delivering dramatic efficacy for patients in areas of high unmet need

About Autolus

Autolus is a biopharmaceutical company developing next-generation programmed T cell therapies for the treatment of cancer.