Syncona (SYNC) fund manager Chris Hollowood has hired Dr Samantha Roberts, the former chief executive of the National Institute for Health and Care Excellence (NICE), as his number two as the life sciences fund ramps up efforts to return £250m of capital to shareholders.
Dr Roberts, who stepped down after four years from NICE in December, joined Syncona Investment Management Limited (SIML) in February as an executive partner. Today Hollowood announced she had been appointed managing director as he took on the role of chief investment officer alongside his job as chief executive.
Her appointment coincides with Roel Bulthuis stepping down as managing partner and head of investments to become a part-time executive partner.
Roberts, who has also joined the board of Spur Therapeutics, Syncona’s late-stage gene therapy company, “will focus on using her commercial and reimbursement expertise to drive value creation across the portfolio and future investments as well as manage the organisation day-to-day,” Syncona said.
The company cited Roberts over 20 years’ experience in bringing healthcare innovation to patients through her background as a clinician, payor and regulator. During her time at NICE, she had “reshaped NICE to be more agile and innovative, increasing the speed of new medicine assessments and the breadth of technologies evaluated. This operational experience will be key in advancing SIML’s strategy.”
The shake-up comes as activist hedge fund Saba Capital continues to build its stake in Syncona, lifting its position in the £747m investment company to 16.4% last week, having first disclosed a stake a year ago.
Hollowood said: “Her deep understanding of how medicines reach patients, from clinical evidence through to reimbursement, is exactly the expertise our portfolio companies need throughout their entire life cycle. Her leadership enables me to focus more closely on investment strategy, as our portfolio advances toward key clinical milestones.”
Roberts said: “Over the last six months, I have been hugely impressed by the team here at SIML and am excited to take on the role of Managing Director to increase our focus on this patient, clinician and payor perspective and to help deliver our next chapter and returns for shareholders.”
Syncona shares edged 0.7% to 123p on a 28% discount to net asset value. They have rallied 24% in the past year but remain 31% down over five years.
