RARE Daily

Freeline Raises $120 Million to Advance Gene Therapies for Rare Systemic Diseases

June 30, 2020

Rare Daily Staff

U.K. biotech Freeline said it closed a $120 million extended series C financing to advance its experimental gene therapies for rare systemic diseases.

The financing augments Syncona’s previously announced series C investment in Freeline of $40 million with an additional $80 million in new investment from Novo Holdings, Eventide Asset Management and Wellington Management, with additional participation from Cowen Healthcare Investments, Acorn Bioventures, and Ample Plus Fund.

Proceeds from the financing will be used to bring Freeline’s lead program in hemophilia B into a pivotal trial, as well as to continue its phase 1/2 clinical program for Fabry disease, and move its pipeline programs for Gaucher disease and hemophilia A into the clinic.

Freeline will also use the money to further develop its proprietary gene therapy platform using next-generation AAV technology and expand its manufacturing capabilities. Freeline says its proprietary capsid, AAVS3, is designed to create sustainable, high levels of the desired protein activity with lower AAV viral titres containing the transgene.

“The potential of gene therapy to change patients’ lives has never been greater and we are delighted to have leading U.S. and European biotechnology investors join us in this extended series C financing,” said Theresa Heggie, CEO of Freeline.

Photo: Theresa Heggie, CEO of Freeline

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