UCL and Syncona have both returned for Freeline's series B round, which will spur clinical development of the spinout's gene therapy for haemophilia B.

Freeline Therapeutics, a UK-based gene therapy spinout from University College London (UCL) and commercialisation firm Syncona, received £88.4m ($116m) yesterday in a series B round backed by both founding partners. UCL contributed $4.5m through its Technology Fund, while Syncona provided $112m. Syncona remains Freeline’s only institutional investor with an 80% equity stake, valued at $83.6m post-money, following the first tranche of the series B round. Founded in 2015, Freeline is developing adeno-associated virus (AAV)-based gene therapies that target the liver to fight chronic systemic diseases affecting multiple organs or even the entire body. The spinout’s lead asset is excepted to serve as a single injection against haemophilia B, a rare disorder that causes painful bleeding in the joints. AAV viruses are not thought to cause disease in humans and, as such, can be used to carry genetic material into the body. The series B capital will fund clinical trials on the haemophilia B treatment as Freeline looks to develop additional therapeutic assets and enhance its manufacturing base. Freeline is based on the research of Amit Nathwani, the spinout’s chief scientific officer and a professor of haemophilia in the Cancer Institute of UCL’s Faculty of Medical Sciences. UCL Technology Fund had previously provided Freeline with $1.4m of capital in 2016, after Syncona had injected $37.6m in series A funding the previous year. Chris Hollowood, chief investment officer of Syncona and chairman of Freeline, said: “In line with our strategy of building global leaders, we believe in backing our companies strongly over the long term. “We are demonstrating this approach with our substantial ongoing commitment to Freeline, a company we founded in 2015 and which has made significant positive progress.”

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