Syncona to buy remaining stake in Freeline

22 November 2023

Life science investor Syncona has announced that its newly-established portfolio company has entered into an agreement to buy the remaining stake in Freeline Therapeutics (Nasdaq: FRLN).

Syncona currently owns 49.7% of Freeline, a UK-based company focused on the development of gene therapies to create better lives for people with chronic diseases. The price agreed values the entire issued share capital of Freeline at approximately $28.3 million.

"Taking the company private allows us the best route to potential risk-adjusted returns"This represents a 50% premium to the firm’s closing price prior to the announcement on October 18 of Syncona’s initial proposal to take Freeline private.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK