Syncona Limited Freeline enters into ADS purchase agreement (7372F)
March 23 2022 - 04:30AM
UK Regulatory
TIDMSYNC
RNS Number : 7372F
Syncona Limited
23 March 2022
Syncona Limited
Freeline enters into ADS purchase agreement
23 March 2022
Syncona Ltd, a leading healthcare company focused on founding,
building and funding global leaders in life science, n otes that
its portfolio company, Freeline Therapeutics Holdings plc (Nasdaq:
FRLN) ("Freeline"), has filed a prospectus supplement with the
Securities and Exchange Commission to report that it has entered
into a purchase agreement for up to $35 million in American
Depositary Shares ("ADSs") of the company with Lincoln Park Capital
Fund, LLC ("LPC").
The purchases are at Freeline's discretion subject to certain
conditions being satisfied, with Freeline having the right to sell
to LPC up to $35 million in ADSs. The purchase agreement has a
36-month term and Freeline has the right to terminate the purchase
agreement at any time, at no cost or penalty. As consideration for
LPC's commitments under the purchase agreement, LPC was issued
954,208 of ADSs by the company. The prospectus supplement can be
found in the Investors section of the Freeline website:
https://www.freeline.life/investors/sec-filings/.
[ENDS]
Enquiries
Syncona Ltd
Natalie Garland-Collins / Fergus Witt
Tel: +44 (0) 7714 916615
FTI Consulting
Ben Atwell / Natalie Garland-Collins / Tim Stamper
Tel: +44 (0) 20 3727 1000
About Syncona
Syncona's purpose is to invest to extend and enhance human life.
We do this by founding and building companies to deliver
transformational treatments to patients in areas of high unmet
need.
Our strategy is to found, build and fund companies around
exceptional science to create a diversified portfolio of 15-20
globally leading healthcare businesses for the benefit of all our
stakeholders. We focus on developing treatments for patients by
working in close partnership with world-class academic founders and
management teams. Our balance sheet underpins our strategy enabling
us to take a long-term view as we look to improve the lives of
patients with no or poor treatment options, build sustainable life
science companies and deliver strong risk-adjusted returns to
shareholders.
About Freeline
Freeline is a clinical-stage biotechnology company developing
transformative adeno-associated virus ("AAV") vector-mediated
systemic gene therapies. The Company is dedicated to improving
patient lives through innovative, one-time treatments that provide
functional cures for inherited systemic debilitating diseases.
Freeline uses its proprietary, rationally-designed AAV vector,
along with novel promoters and transgenes, to deliver a functional
copy of a therapeutic gene into human liver cells, thereby
expressing a persistent functional level of the missing or
dysfunctional protein into the patient's bloodstream. The Company's
integrated gene therapy platform includes in-house capabilities in
research, clinical development, manufacturing, and
commercialization. The Company has clinical programs in Hemophilia
B, Fabry disease, and Gaucher disease Type 1. Freeline is
headquartered in the UK and has operations in Germany and the
US.
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