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Freeline closes $120m extended series-C round

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Freeline, a British clinical-stage biotechnology company, has closed a $120m extended series-C financing. The round was led by Novo Holdings, Eventide Asset Management and Wellington Management Company.

Cowen Healthcare Investments, Acorn Bioventures and Ample Plus Fund also participated in the round.

The financing augments Syncona's previously announced series-C investment in Freeline of $40m with an additional $80m in new capital.

The fresh capital will be used to further develop the company's proprietary gene therapy platform.

In connection with the financing, Freeline will appoint Thomas Dyrberg of Novo Holdings to its board of directors.

Previous funding
In June 2016, UCL Technology Fund, managed by Albion Ventures and Universal College London, invested up to £1m in series-A financing in Freeline Therapeutics.

In June 2018, Syncona led an £88.4m series-B funding round for the company. The GP contributed £85m to the financing round, while UCL Technology Fund contributed £3.4m.

Company
Founded in 2015 and headquartered in Stevenage, Freeline is a clinical-stage company specialising in adeno-associated virus gene therapy and focused on liver expression for chronic systemic diseases. It has 316 employees, according to LinkedIn.

People
Freeline – Theresa Heggie (CEO).
Novo Ventures – Thomas Dyrberg (managing partner).
Syncona – Chris Hollowood (chief investment officer).

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