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BACIT Changes Name To Syncona After Investment Shift
LONDON (Alliance News) - BACIT Ltd said Monday it has changed its name to Syncona Ltd, following its shift to life science investments.
BACIT, which stands for Battle Against Cancer Investment Trust, has adopted the name Syncona following its agreed acquisition of life science investment trusts held by the Wellcome Trust and Cancer Research UK.
That move also saw the trust issue 272.2 million new shares, primarily to the Wellcome Trust which took a 37% stake in the newly-christened Syncona.
Shares in BACIT were up 0.9% at 132.69 pence Monday.
By Adam Clark; adamclark@alliancenews.com
Copyright 2016 Alliance News Limited. All Rights Reserved.
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