ADAPTIMMUNE LIMITED
Opportunity 70/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 6 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
Refinance opportunity
6 live charges · 6 lenders · oldest 13.2y
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 13.2 years old — likely at or near maturity.
- · 6 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (58/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Recent activity
- • 2 address
- • 2 address
- • 1 officers
Corporate timeline (73 events)Click to expand
- 2026-03-25📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2026-03-25📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2025-12-17📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-12-15➖RAWCLIFFE, Adrian George resigneddirector
- 2025-11-14➕HILL, Christopher James appointeddirector
- 2025-11-14➖BERTRAND, William Charles resigneddirector
- 2025-11-14📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-11-14📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-10-06📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-10-02📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-10-02📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-10-02📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2025-10-01➕BERTRAND, William Charles appointeddirector
- 2025-09-30➖HENRY, Margaret resignedsecretary
- 2025-09-30➖HENRY, Margaret resigneddirector
- 2025-09-09➖WOOD, Gavin resigneddirector
- 2025-08-01📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-08-01📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-08-01📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-08-01🔓Charge satisfied #6
- 2025-08-01🔓Charge satisfied #5
- 2025-08-01🔓Charge satisfied #4
- 2025-06-06📄accounts-with-accounts-type-fullaccounts · AA
- 2025-05-09📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-03-31➖TAYTON-MARTIN, Helen Katrina, Dr resigneddirector
- 2024-05-24📄memorandum-articlesincorporation · MA
- 2024-05-24📄resolutionresolution · RESOLUTIONS
- 2024-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-05-20🔓Charge satisfied #2
- 2024-05-19📄accounts-with-accounts-type-fullaccounts · AA
- 2024-05-14🔒Charge registered #6Lender: Hercules Capital, Inc. as Security Trustee for the Secured Parties (As Defined in the Instrument)
- 2024-05-14🔒Charge registered #5Lender: Hercules Capital, Inc. as Collateral Agent for the Lenders
- 2024-05-14🔒Charge registered #4Lender: Hercules Capital, Inc. as Collateral Agent for the Lenders'
- 2023-05-24📄accounts-with-accounts-type-fullaccounts · AA
- 2021-06-15🔓Charge satisfied #1
- 2020-04-01➕WOOD, Gavin appointeddirector
- 2019-09-01➕HENRY, Margaret appointeddirector
- 2019-09-01➖NOBLE, James Julian resigneddirector
- 2019-01-30🔒Charge registered #3Lender: Lloyds Bank PLC
- 2017-01-12➖BEHBAHANI, Ali, Dr resigneddirector
- 2017-01-12➖MOTT, David Morrell resigneddirector
- 2017-01-12➕RAWCLIFFE, Adrian George appointeddirector
- 2017-01-12➖SIGAL, C Elliott, Dr resigneddirector
- 2017-01-12➕TAYTON-MARTIN, Helen Katrina, Dr appointeddirector
- 2017-01-12➖THOMPSON, Peter Armstrong, Dr resigneddirector
- 2016-12-31➖KNOWLES, Jonathan Kenneth Charles, Dr resigneddirector
- 2016-12-31➖LAING, Ian Michael resigneddirector
Owner dependency
Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
- +Sole director: Only one active director — all governance concentrated on one person.
Succession & seller-readiness
Some succession indicators present. Worth watching; approach if sector/strategy fits.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
2 med · 1 lowMultiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: HENRY, Margaret resigned 2025-09-30; BERTRAND, William Charles resigned 2025-11-14; HENRY, Margaret resigned 2025-09-30
Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Multiple address changes in a short period can indicate operational instability or admin disorder.
Group structure
Adaptimmune Therapeutics Plc is the ultimate parent — holding 75%+ shares. This company sits inside their group.
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Adaptimmune Therapeutics Plc Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
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7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.
Available from the Pro tier upwards.
See pricing →Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.
Available from the Pro tier upwards.
See pricing →Company details
Registered office
Filing status
Officers (1 active · 19 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Hercules Capital, . as Security Trustee for the Secured Parties (As Defined in the Instrument) Hercules Capital, Inc. as Security Trustee for the Secured Parties (As Defined in the Instrument) | A registered charge | 1 property | 14/05/2024 | 01/08/2025 | |
| satisfied | Hercules Capital, . as Collateral Agent for the Lenders Hercules Capital, Inc. as Collateral Agent for the Lenders | A registered charge | 1 property | 14/05/2024 | 01/08/2025 | |
| satisfied | Hercules Capital, . as Collateral Agent for the Lenders' Hercules Capital, Inc. as Collateral Agent for the Lenders' | A registered charge | 1 property | 14/05/2024 | 01/08/2025 | |
| outstanding | Lloyds Banking Group Lloyds Bank PLC | A registered charge | — | 30/01/2019 | — | |
| satisfied | Barclays Barclays Bank PLC | A registered charge | — | 11/09/2015 | 20/05/2024 | |
| satisfied | NatWest Group Coutts & Company | Debenture | 1 property | 22/03/2013 | 15/06/2021 |