Freeline, a Stevenage, UK-based biotechnology company focused on developing curative gene therapies for chronic systemic diseases, closed a $120m extended Series C financing. The financing augments Syncona’s previously announced Series C investment in Freeline of $40m (£30.6m) with an additional $80m (£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. In connection with the financing, Freeline will appoint Thomas Dyrberg of Novo Holdings A/S to its Board of Directors.
Led by Theresa Heggie, CEO, Freeline is a clinical-stage biotechnology company focused on AAV-based gene therapy targeting the liver. The company is headquartered in the UK and has operations in Germany and the US.
The company plans to use the funds to bring its lead program in Haemophilia B into a pivotal trial, to continue its Phase 1/2 clinical program for Fabry Disease and further progress its pipeline programs for Gaucher Disease and Haemophilia A, to further develop its proprietary gene therapy platform using next-generation AAV technology and to expand its manufacturing capabilities.