Freeline secures £96m in extended Series C funding led by Novo Holdings, Eventide Asset Management and Wellington Management Company
The biotechnology firm has raised £96m in new capital to advance its gene therapy pipeline and manufacturing capabilities.
Freeline is a biotechnology company focused on developing curative gene therapies for chronic systemic diseases. The clinical stage business targets liver based AAV gene therapies to provide potential functional cures.
Freeline has secured £96m in an extended Series C funding round led by Novo Holdings, Eventide Asset Management and Wellington Management Company. The fresh capital builds on a previous investment by Syncona and includes participation from Cowen Healthcare Investments, Acorn Bioventures and Ample Plus Fund.
The biotechnology firm plans to allocate the proceeds towards advancing its lead programme for Haemophilia B into a pivotal trial. Additional funds will support ongoing clinical work for Fabry Disease, pipeline progression for Gaucher Disease and Haemophilia A, and the expansion of proprietary gene therapy and manufacturing capabilities.
From the founder
"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,"
Theresa Heggie
CEO at Freeline
Investor perspective
"Freeline’s product candidates have significant potential to achieve functional cures for patients across a broad array of systemic diseases and we are very pleased with the progress the company has made to date,"
Chris Hollowood
Chief Investment Officer, Syncona
Use of funds
- 01Continue product development
- 02Fund research and development
- 03Build out infrastructure
Investors
Novo Holdings
Eventide Asset Management
Wellington Management Company
Chris Hollowood
Syncona
Cowen Healthcare Investments
Acorn Bioventures
Ample Plus Fund