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(Alliance News) - Healthcare-focused investor Syncona Ltd said Thursday it has committed USD80 million into gene therapy firm Freeline Therapeutics, through a Series C financing.
Syncona - which holds a 79% stake in Freeline - has already funded the first tranche of USD40.0 million.
The initial funding will allow Freeline to expand its team, develop its manufacturing platform to include commercial supply capability, and generates further data in its clinical programmes for haemophilia and Fabry disease.
Currently, Freeline has a pipeline of four disclosed programmes, two of which are at the clinical stage.
"Freeline has developed a high-quality gene therapy platform with a novel capsid capable of driving high expression levels to treat systemic diseases. We are encouraged by the potential product profile in our lead programme in haemophilia B and believe Freeline has the opportunity to achieve functional cures for patients across a broad pipeline of systemic diseases. We are continuing with dose optimisation and remain on track to provide a clinical data update by financial year end," said Chief Investment Officer Chris Hollowood.
Shares in Syncona were down 2.4% at 219.68 pence on Thursday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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