Freeline, a biotechnology company focused on developing curative gene therapies for chronic systemic diseases, today announced the closing of a £100m extended Series C financing.
The financing augments Syncona’s previously announced Series C investment in Freeline of £30.6m with an additional £61.2m of new capital. The round was led by Novo Holdings A/S, Eventide Asset Management and Wellington Management Company, with additional participation from Cowen Healthcare Investments, Acorn Bioventures and Ample Plus Fund.
Freeline expects to use the proceeds from the financing to bring its lead program in Haemophilia B into a pivotal trial, as well as to continue its Phase 1/2 clinical program for Fabry Disease and further progress its pipeline programs for Gaucher Disease and Haemophilia A. Additionally, Freeline expects to use the proceeds from the financing to further develop its proprietary gene therapy platform using next-generation AAV technology and expand its manufacturing capabilities.
“The potential of gene therapy to change patients’ lives has never been greater and we are delighted to have leading US and European biotechnology investors join us in this extended Series C financing,” said Theresa Heggie, CEO of Freeline. “It comes at an exciting time for Freeline with our lead program in Haemophilia B progressing through clinical development, and with promising programs behind that, including a gene therapy treatment for Fabry Disease in the clinic and for Gaucher Disease and Haemophilia A in late preclinical development.”
Thomas Dyrberg, Managing Partner, Novo Ventures, Novo Holdings A/S continued: “Our investment strategy is to identify and invest in US and European life science companies which are true leaders in their area of expertise, developing innovative product candidates that significantly advance patient care. We have been impressed by the Freeline platform and its scientific co-founders, as well as their experienced management team, and we are delighted to support Freeline as they continue to build momentum.”