Fierce Biotech June 17, 2024
Seven months after Syncona threw a financial lifeline to struggling Freeline Therapeutics, the London-based investment firm is giving the biotech another present in the form of fellow gene therapy company SwanBio.
Both Freeline and SwanBio were founded by Syncona. Now, the firm is overseeing Freeline’s acquisition of SwanBio to create a new entity called Spur Therapeutics. Spur will be 99% owned by Syncona and is set to have a valuation of around £104.7 million ($132.7 million), with Syncona committing $50 million to fund development of the company’s pipeline.
This pipeline will feature Freeline’s lead Gaucher disease program FLT201, which is due to enter phase 3 in 2025, as well as SwanBio’s phase 1/2 program for the neurodegenerative disease adrenomyeloneuropathy (AMN).
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