Syncona to Acquire Freeline in All Cash Transactions for ~$43.5M

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Syncona to Acquire Freeline in All Cash Transactions for ~$43.5M


  • Under the agreement, Syncona will acquire all shares of Freeline for $6.50 per American Depositary Share (ADS). This price values Freeline’s entire issued share capital at approx. $28.3M and represents a 51% premium over the closing price prior to the announcement of Syncona’s initial proposal on October 18.
  • Additionally, Freeline is eligible to receive $15M in secured convertible debt funds to support the advancement of FLT201. The acquisition is expected to close in Q1’24
  • The firm will become a fully owned Syncona portfolio company upon completion of the transaction, and its ADSs will no longer be traded on Nasdaq.

Ref: Globenewswire | Image: Freeline

Related News:- Merck to Acquire Caraway Therapeutics for ~$610M

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Kritika Jha

Kritika is a content writer at PharmaShots. She is interested in covering recent innovations from the pharma & MedTech industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.

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