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Syncona Ltd - healthcare company focused on a portfolio of global leaders in life science - Leads £22.5 million Series A financing in Mosaic Therapeutics, a Cambridge England-based oncology therapeutics company. Commits £16.5 million alongside investment from Cambridge Innovation Capital. Reports holding value in Mosaic is £7.3 million following the investment of the first tranche of the Series A commitment and, once all current commitments are invested, will have a 52.8% stake in the business. Mosaic becomes Syncona’s 13th company in its current portfolio. Also announces portfolio company Freeline Therapeutics Holdings PLC results for 2022. Freeline posts narrowed annual pretax loss of $88.6 million compared to $140.1 million and loss per share of USD 1.50 against $3.93. Says Freeline has prioritised the development of its FLT201 therapy in Gaucher Disease, pausing development of the FLT190 programme in Fabry disease. Adds Freeline announced 30% reduction in headcount to around 65. Current stock price: 149.15 pence 12-month change: down 10% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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