Beacon Therapeutics, a prominent player in ophthalmic gene therapy focused on restoring vision in patients with severe retinal diseases, has successfully raised $170 million in Series B funding. Forbion led the financing round, joined by existing investors Syncona Limited, Oxford Science Enterprises, and the University of Oxford, alongside initial investments from TCGX and Advent Life Sciences.

The funds will primarily support ongoing clinical development of AGTC-501 for X-Linked Retinitis Pigmentosa (XLRP) and the generation of Phase 1/2 clinical trial data for the Company's Dry Age-related Macular Degeneration (dAMD) program. The funding round also resulted in the appointment of Dmitrij Hristodorov and Wouter Joustra from Forbion, and Cariad Chester from TCGX to its Board of Directors, with Dominic Schmidt from Advent Life Sciences joining as a Board Observer.

AGTC-501, Beacon's lead asset, is currently undergoing registrational trials for XLRP, aiming to address photoreceptor damage caused by both rod and cone loss by expressing the full-length RPGR protein. David Fellows, CEO of Beacon Therapeutics, expressed confidence in advancing treatments for prevalent and rare retinal diseases, noting the funding's potential to accelerate pipeline development and the commercialization of AGTC-501.

Dmitrij Hristodorov from Forbion emphasized their support for Beacon's management team and their vision of establishing a leading retinal gene therapy company. Elisa Petris from Syncona reiterated their commitment to Beacon's innovative gene therapy approach, highlighting the partnership's potential to advance treatments for various ophthalmic diseases.

With this funding, Beacon has raised approximately $290 million to date. This financing round follows significant clinical milestones, including the initiation of pivotal trials and positive interim results from ongoing studies, underscoring the efficacy and safety of Beacon's therapeutic advancements.

 

Source: prnewswire.com

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