Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Woodford takes 19% stake in biotech minnow

Woodford takes 19% stake in biotech minnow

Neil Woodford, the best UK investor of his generation, has taken a big chunk of biotech minnow Synairgen a month after it licensed an asthma drug for a fee worth up to $225 million (£131 million).

Citywire A-rated Woodford went from below a reportable holding in the business to owning 19% in one purchase, or 17.45 million shares worth £9.07 million at a share price of 52p.

The manager - who has offered the best long-term risk-adjusted return of any UK investor - left Invesco Perpetual, his employer of more than 25 years, earlier this year to launch his own business.

Shares in Synairgen briefly spiked more than 40% in June following the announcement of the deal with AstraZeneca, before deflating as the company placed 12.2 million shares to fund development.

AstraZeneca will pay the company an up-front fee of $7.25 million with the remainder subject to expectations, in addition to royalties. Broker finnCap has a 108p target price on the business.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Video special: what Scottish DFMs think of SNP election flop

Video special: what Scottish DFMs think of SNP election flop

As delegates gathered for Citywire Scotland, we asked them their take on the election.

Play Keith Skeoch: 'passive has a part to play'

Keith Skeoch: 'passive has a part to play'

In the third part our series, Skeoch outlines his vision for Standard Aberdeen.

2 Comments Play Keith Skeoch: why I believe markets will make 'substantial returns'

Keith Skeoch: why I believe markets will make 'substantial returns'

In an exclusive interview, Standard Life CEO Keith Skeoch tells us why he takes an optimistic view on markets just about everywhere.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter