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Syncona's Freeline appoints new CEO; clinical programs remain 'on track'
StockMarketWire.com
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Healthcare and life science investor Syncona's portfolio company Freeline Therapeutics has announced that Michael J. Parini has succeeded Theresa Heggie as chief executive and confirmed it is 'on track' for three programs in the clinic by year end.
Freeline Therapeutics, a clinical-stage biotechnology company developing AAV-mediated gene therapies for patients suffering from inherited systemic debilitating diseases, said that president and chief operating officer Parini is set to succeed Heggie.
Syncona chief investment officer and Freeline chairman Chris Hollowood said: 'Michael has a long track record of building strong executive leadership teams and has had a significant impact on Freeline since he joined from Vertex Pharmaceuticals.
'In a short period of time, he has mobilized program execution across our pipeline, increased focus on our core scientific and platform technology capabilities, and driven efficiencies across the organization that have extended our cash runway.'
It also confirmed that following the departure of Julie Krop as chief medical officer, head of clinical development Alison Long will serve as interim chief medical officer while an external search is underway.
Freeline also reported in its second quarter financial results that it remained 'on track' for three programs in the clinic by year end, with trial site initiation for FLT180a for Hemophilia B and FLT201 for Gaucher disease Type 1 expected by year end and the program for FLT190 for Fabry disease 'progressing'.
It also confirmed completion of the first dose cohort for the FLT190 Phase 1/2 dose-finding trial and that it is 'advancing to next dose level'.
Freeline reported research and development expenses for the six months ended June 30, 2021 were $48.1 million, as compared to $29.4 million for the same period in 2020, with the rise attributed to increased investment in activities related to the current and proposed clinical trials for FLT201 and FLT210.
At 1:25pm: (LON:SYNC) Syncona Limited share price was 0p at 278p
Story provided by StockMarketWire.com
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