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LONDON (Alliance News) - FTSE 250-listed healthcare investment company Syncona Ltd said on Tuesday it has invested GBP85 million in Adeno-associated virus gene therapy company Freeline.
Adeno-associated virus is a small virus which infects humans and some other primate species.
The investment by Syncona is part of a GBP88.4 million Series B financing by Freeline, which is expected to allow Freeline to drive its lead programme in Haemophilia B through the clinic, enlarge its pipeline, improve on its core manufacturing capabilities and deliver its products to patients.
Syncona is one of two investors in Freeline, the other being UCL Technology Fund, which injected GBP3.4 million into the round. Syncona currently holds an 80% stake in the company, valued at GBP63.5 million during the first tranche of the investment.
"The business has a world leading founder and executive team with extensive track records in gene therapy, clinical translation, early and late stage development and global drug approvals. With its first programme now in the clinic we look forward to continuing to work with Freeline as it seeks to progress its treatments to patients," said Chief Investment Officer Chris Hollowood.
Shares in Syncona were up 0.5% at 224.00 pence on Tuesday.
