Freeline Therapeutics, a Phase 1/2 biotech developing gene therapies for rare diseases, announced terms for its IPO on Monday.
The Stevenage, UK-based company plans to raise $125 million by offering 7.4 million ADSs at a price range of $16 to $18. At the midpoint of the proposed range, Freeline Therapeutics would command a fully diluted market value of $574 million.
The company's lead candidate, FLT180a, an investigational gene therapy medicinal product candidate for the treatment of hemophilia B, is currently in a Phase 1/2 trial and has dosed 10 patients as of June 15, 2020.
Freeline Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol FRLN. J.P. Morgan, Morgan Stanley, Evercore ISI and Wedbush PacGrow are the joint bookrunners on the deal. It is expected to price during the week of August 3, 2020.
