BioTech firm Freeline raises £96m, eyes US IPO
Posted on July 2, 2020 by Jonathan Symcox
Freeline Therapeutics has raised £96m in a Series C financing round.
Based in Stevenage, it focuses on curative gene therapies for chronic systemic diseases.
The BioTech firm also said it is considering a stock market flotation in the United States.
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.
It will also 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 CEO Theresa Heggie.
Thomas Dyrberg, Managing Partner at Novo Ventures, will join its board of directors.
“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,” he said.
“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.”