18th Oct 2023 12:01
Syncona Ltd - London-based investor in healthcare companies - Says Syncona Investment Management Ltd has submitted a non-binding proposal to acquire the entire remaining share capital of Freeline Therapeutic Holdings PLC. Offers upfront cash consideration of USD5.00 per American depository share, representing a 20% premium over the USD4.16 volume weighted average price from October 4 to October 16. Syncona currently owns around 57.9% of shares in Stevenage, England-based Freeline, which it co-founded in 2015. Freeline aims to develop gene therapies to treat chronic diseases, most notably its potentially "transformative" FLT201 programme to treat Gaucher disease.
Current stock price: 126.30 pence, up 0.2% in London on Wednesday around noon
12-month change: down 24%
By Emma Curzon, Alliance News reporter
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