GlobeNewswire Inc | Jan 6, 2022 04:01PM EST

January 06, 2022

LONDON, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Freeline Therapeutics Holdings plc (Nasdaq: FRLN) (the Company or Freeline), a clinical-stage biotechnology company developing transformative AAV-mediated gene therapies for patients suffering from inherited systemic debilitating diseases, today announced that onDecember 31, 2021, the Company granted four newly hired employees non-statutory options to purchase an aggregate of 89,200 of the Companys ordinary shares.

The awards were granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were approved by an independent subcommittee of the remuneration committee of Freelines board of directors. The awards were granted pursuant to the terms of Freelines 2021 Equity Inducement Plan, which was adopted by Freelines board of directors inSeptember 2021.

Each of the options has an exercise price of $2.00 per share, which was the closing price of Freelines American Depositary Shares reported by Nasdaq on December 30, 2021, the last trading day preceding the grant date. The options have a maximum 10-year term and vest over a four-year service period, with 25% of the award vesting on the first anniversary of the vesting commencement date, with the balance vesting monthly over the remaining three years.

About Freeline Therapeutics

Freeline is a clinical-stage biotechnology company developing transformative adeno-associated virus (AAV) vector-mediated systemic gene therapies. The Company is dedicated to improving patient lives through innovative, one-time treatments that provide functional cures for inherited systemic debilitating diseases. Freeline uses its proprietary, rationally-designed AAV vector, along with novel promoters and transgenes, to deliver a functional copy of a therapeutic gene into human liver cells, thereby expressing a persistent functional level of the missing or dysfunctional protein into the patients bloodstream. The Companys integrated gene therapy platform includes in-house capabilities in research, clinical development, manufacturing and commercialization. The Company has clinical programs in HemophiliaB, Fabry disease, and Gaucher disease Type 1. Freeline is headquartered in the UK and has operations in Germany and the US.

Contact

David S. ArringtonVice President Investor Relations & Corporate CommunicationsFreeline Therapeuticsdavid.arrington@freeline.life+1 (646) 668 6947