StockMarketWire.com - Healthcare investor Syncona said portfolio company Freeline Therapeutics had raised $80m from institutional investors.

Freeline Therapeutics was focused on developing curative gene therapies for chronic systemic diseases.

The investors included Novo Holdin, Eventide Asset Management, Wellington Management Company, Cowen Healthcare Investments, Acorn Bioventures and Ample Plus Fund.

Syncona said the company had now raised $120m when including $40m invested by Syncona in December.

In light of the new investment, Syncona said it had revalued its holding to take account of the price of the new funding round.

That resulted in a £30.8m uplift, 4.6p per Syncona share, to Syncona's holding value of Freeline.

Syncona's holding value of Freeline was now £181.5m and its ownership stake in the business was 60%.




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