Beacon Therapeutics Raises $170M to Advance Ophthalmic Gene Therapies

Beacon Therapeutics Raises $170M to Advance Ophthalmic Gene Therapies

Beacon has secured $170 million in Series B funding to further its mission of developing gene therapies for blinding retinal diseases. The round was led by Forbion, with participation from existing investors Syncona Limited, Oxford Science Enterprises, and the University of Oxford, as well as new investors TCGX and Advent Life Sciences.

Key Points:

  • Funding Allocation: The funds will support the continued clinical development of Beacon’s lead asset, AGTC-501, for X-Linked Retinitis Pigmentosa (XLRP), and generate Phase 1/2 clinical trial data for the company’s Dry Age-related Macular Degeneration (dAMD) program.
  • Leadership and Governance: Dmitrij Hristodorov and Wouter Joustra, General Partners of Forbion, along with Cariad Chester, Managing Partner of TCGX, have joined Beacon’s Board of Directors. Dominic Schmidt, General Partner of Advent Life Sciences, has joined as a Board Observer.
  • Focus Areas: Beacon Therapeutics is dedicated to treating both orphan and prevalent retinal diseases. AGTC-501, which is in a registrational clinical trial for XLRP, aims to address photoreceptor damage, including both rod and cone loss, by expressing the full-length RPGR protein.
  • Executive Comments:
  • David Fellows, CEO of Beacon Therapeutics: “These funds will support the ongoing development of our late-stage and pre-clinical pipeline and enable acceleration of the development of AGTC-501 as we progress through the clinic and toward commercialization.”
  • Dmitrij Hristodorov, General Partner at Forbion: “Beacon’s deep expertise and renowned management bench give us confidence in the plan to build a leading retinal gene therapy company.”
  • Elisa Petris, Lead Partner at Syncona Investment Management Limited: “This financing and the partnership of this high-quality syndicate will propel Beacon’s pipeline and enable the Company to advance its programs for both rare and prevalent ophthalmic diseases.”
  • Milestones and Achievements: Beacon has raised approximately $290 million to date. Recent milestones include the first patient dosed in the VISTA registrational trial for AGTC-501, the initiation of the Phase II DAWN trial, and the presentation of positive 12-month interim results of the Phase 2 SKYLINE trial at the 47th Annual Macula Society Meeting.

Beacon Therapeutics continues to make significant strides in the development of gene therapies aimed at saving and restoring vision for patients suffering from retinal diseases, leveraging its robust pipeline and strong financial backing.

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