Syncona’s Freeline may IPO – Freeline Therapeutics says that it raised a total of $120m from investors in its Series C fundraising. $40m of this came from Syncona (in December 2019).
Syncona has written up the value of its investment to reflect the pricing of the fundraise. Its 60% stake in Freeline is now valued at £181.5m, a £30.8m (20.4%) uplift. This adds 4.6p to the NAV.
Freeline is using the money to pursue its clinical studies for Haemophilia B and Fabry disease. Behind those programmes it also has therapies for Gaucher’s disease and Haemophilia A in development.
Freeline has appointed Theresa Heggie as chief executive officer. She was formerly head of CEMEA at Alnylam and brings significant commercial expertise in rare diseases. In addition, Julie Krop has been appointed chief medical officer, bringing extensive experience in guiding clinical stage therapies for rare and complex disorders to registration. Syncona says that Freeline expects to consider additional capital raising options this year, which could include an initial public offering in the United States.
SYNC : Syncona’s Freeline may IPO