Syncona Seeks to Buy Remaining Shares of Freeline Therapeutics

Dow Jones2023-10-18

By Najat Kantouar

Syncona that its investment manager has submitted a proposal to buy the shares of Freeline Therapeutics Holdings that it doesn't already own, and plans to start talks with the company over a potential deal.

The U.K. healthcare company said Wednesday that it is offering to pay $5.00 for each American Depositary Share of Freeline, a 20% premium over the volume weighted average price of $4.16 between Oct. 4 and Oct. 16.

Syncona, which currently owns approximately 57.9% of Freeline, said there isn't a guarantee that any deal will be agreed.

Freeline is focused on its FLT201 gene therapy program for the treatment of Gaucher disease, a debilitating condition.

Syncona shares at 1030 GMT were up 0.20 pence, or 0.2%, at 126.20 pence.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

October 18, 2023 06:33 ET (10:33 GMT)

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