REG - Syncona Limited - Freeline enters into ADS purchase agreement

SynconaAnnouncement

23/03/2022 08:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220323:nRSW7372Fa&default-theme=true

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, notes 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/
(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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUPPUBUWUPPURW