Date: 0000-00-00
Type of information: Restructuring
Company: Freeline Therapeutics (UK)
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Planned used: Freeline Announces $26.1 Million Registered Direct Offering of American Depositary Shares LONDON, March 11, 2022 (GLOBE NEWSWIRE) -- Freeline Therapeutics Holdings plc (Nasdaq: FRLN) (the “Company” or “Freeline”), a clinical-stage biotechnology company developing transformative AAV-mediated gene therapies for people with inherited systemic debilitating diseases, today announced that it has entered into a definitive agreement with Freeline’s majority shareholder, Syncona Portfolio Limited, a subsidiary of Syncona Limited, and certain other existing shareholders to purchase an aggregate of $26.1 million of its American Depositary Shares (“ADSs”), each representing one ordinary share of the Company, at a price of $1.05 per ADS, in a registered direct offering. The closing of the offering is expected to occur on or about March 15, 2022, subject to the satisfaction of customary closing conditions. Freeline intends to use the net proceeds from this offering to fund activities relating to the continued development of its product candidates and gene therapy platform and for other general corporate purposes. As a result of this offering, the Company expects its level of cash and cash equivalents will enable the Company to fund its operating expenses into the third quarter of 2023. The Company has engaged Wedbush Securities Inc. as its financial advisor in connection with the offering. About Freeline Therapeutics Holdings plc 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.
Others: Freeline Announces $26.1 Million Registered Direct Offering of American Depositary Shares LONDON, March 11, 2022 (GLOBE NEWSWIRE) -- Freeline Therapeutics Holdings plc (Nasdaq: FRLN) (the “Company” or “Freeline”), a clinical-stage biotechnology company developing transformative AAV-mediated gene therapies for people with inherited systemic debilitating diseases, today announced that it has entered into a definitive agreement with Freeline’s majority shareholder, Syncona Portfolio Limited, a subsidiary of Syncona Limited, and certain other existing shareholders to purchase an aggregate of $26.1 million of its American Depositary Shares (“ADSs”), each representing one ordinary share of the Company, at a price of $1.05 per ADS, in a registered direct offering. The closing of the offering is expected to occur on or about March 15, 2022, subject to the satisfaction of customary closing conditions. Freeline intends to use the net proceeds from this offering to fund activities relating to the continued development of its product candidates and gene therapy platform and for other general corporate purposes. As a result of this offering, the Company expects its level of cash and cash equivalents will enable the Company to fund its operating expenses into the third quarter of 2023. The Company has engaged Wedbush Securities Inc. as its financial advisor in connection with the offering. About Freeline Therapeutics Holdings plc 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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