QuotedData’s morning briefing 5 June 2024 – SYNC, SEED, LSAA, ICGT

In QuotedData’s morning briefing 5 June 2024:

• Syncona (SYNC) has provided an update on one of its portfolio companies, Quell Therapeutics. Quell has announced that it is advancing QEL-001, its autologous, multi-modular engineered CAR-Treg cell therapy, into the efficacy cohort of the Phase I/II trial in liver transplant patients. SYNC comments that “this is the first time a therapy of this kind has been assessed in humans as a potential treatment for supporting successful liver transplantation. We are encouraged by the initial data showing QEL-001 to be safe and well tolerated, and look forward to the trial advancing to efficacy evaluation.”
• SEED Innovations (SEED) has announced that it has completed its share buyback programme, first initiated on 19 September 2023. Since then SEED has repurchased 19,797,500 shares for a total consideration of approximately £0.51m, at an average price of 2.58p per share. This represented 9.31% of SEED’s issued share capital when the programme commenced. A further £2m was returned to shareholders by way of the 1p special dividend, utilising over £2.5m in total. SEED comments that its focus in now on its existing portfolio and further adding new investments.
• Life Settlements Assets (LSAA) has announced that it will undertake a share buyback programme, given the trust’s current discount. LSAA has allocated certain funds to the programme which will only be undertaken where the board believes it to be in the shareholders’ best interests at the prevailing share price and accretive to NAV. There is no certainty that any buybacks will be conducted or that the full allocation will be utilised.
• ICG Enterprise Trust (ICGT) has announced that it has extended the maturity of its €240m revolving credit facility by one year, from 30 May 2027 to 29 May 2028.