MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news

MetiNews.Com - Investor and founder in life science companies Syncona (SYNC) said on Tuesday it had expanded funding for gene therapy specialist Freeline Therapeutics by $80 million, leading to 20.4% uplift in its net asset value, giving Syncona shares a 3.5% boost to 248p.

MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news

MetiNews.Com - Investor and founder in life science companies Syncona (SYNC) said on Tuesday it had expanded funding for gene therapy specialist Freeline Therapeutics by $80 million, leading to 20.4% uplift in its net asset value, giving Syncona shares a 3.5% boost to 248p.

MetiNews.Com  Syncona receives 20% boost to portfolio value Breaking news
30 June 2020 - 10:48

Breaking News ! Investor and founder in life science companies Syncona (SYNC) said on Tuesday it had expanded funding for gene therapy specialist Freeline Therapeutics by $80 million, leading to 20.4% uplift in its net asset value, giving Syncona shares a 3.5% boost to 248p. The fund raise was in addition to the $40 million investment Syncona made in December 2019 and brings its total funding for Freeline to $120 million. The latest tranche, which was priced at a premium to the value on Syncona’s books, attracted specialist global institutional investors including Danish quoted healthcare firm Novo Holding A/S, Cowen Healthcare Investments and Acorn Bioventures. Prior to the funding Syncona had a 79% economic interest in Freeline and the holding accounted for 12.1% of Syncona’s portfolio.

.8 million to £181.5 million, increasing the total portfolio value by a fifth while reducing its ownership of Freeline from 79% to 60%. The cash will allow Freeline to continue with its lead programme in Haemophilia B pivotal study and progress its plans to develop a manufacturing platform, including commercial supply capability. POSSIBLE LISTING In a separate announcement Sycona said it was considering additional capital raising options for Freeline which ‘could include an initial public offering in the US.’ While the company said a listing wasn’t assured, Broker Numis noted ‘the biotech IPO market has been strong recently, and with Freeline’s FLT180a data in Haemophilia B suggesting it may have a best in class gene therapy delivery platform, we are optimistic about the prospects of a successful IPO.’ READ MORE ABOUT SYNCONA HERE

Source = MetiNews.Com

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MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news


MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news


MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news


MetiNews.Com Syncona receives 20% boost to portfolio value Breaking news

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