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Beacon Therapeutics Secures $170 Million in Series B Funding to Propel Advancements in Ophthalmic Gene Therapies

NextEdge Admin

04 Jul 2024

3 min 27 sec

funding,Macular Degeneration,ophthalmic diseases

Beacon Therapeutics Holdings Limited, a pioneering ophthalmic gene therapy company, has successfully secured $170 million in Series B funding led by Forbion, with participation from existing investors Syncona Limited, Oxford Science Enterprises, the University of Oxford, TCGX, and Advent Life Sciences. This funding round will primarily bolster the clinical advancement of Beacon's lead asset, AGTC-501, designed for treating X-Linked Retinitis Pigmentosa (XLRP), and accelerate Phase 1/2 clinical trials for their Dry Age-related Macular Degeneration (dAMD) program.

AGTC-501 aims to address the lack of treatment options for XLRP, an orphan disease causing progressive vision loss due to mutations in the RPGR gene. By expressing the full-length RPGR protein, the therapy targets both rod and cone photoreceptor damage. Beacon's commitment extends beyond rare diseases to prevalent conditions like dAMD, showcasing their broader impact in the field of retinal diseases.

In conjunction with the funding, Beacon Therapeutics has appointed new members to its Board of Directors: Dmitrij Hristodorov and Wouter Joustra from Forbion, and Cariad Chester from TCGX, with Dominic Schmidt from Advent Life Sciences joining as a Board Observer. These additions are expected to strengthen governance and strategic guidance as the company advances its pipeline towards commercialization.

David Fellows, CEO of Beacon Therapeutics, expressed confidence in the company's trajectory, emphasizing their dedication to transforming the lives of patients through innovative gene therapies. He highlighted the strategic importance of funding in advancing both late-stage clinical trials and pre-clinical programs, including their recent milestones such as initiating Phase II trials and presenting positive interim results.

Forbion's General Partner, Dmitrij Hristodorov, affirmed their support for Beacon's mission, citing the company's strong management and scientific expertise as key factors driving their investment decision. Similarly, Elisa Petris from Syncona Investment Management emphasized the robust leadership and innovative approach of Beacon Therapeutics, underscoring Syncona's continued commitment to the company's vision.

Beacon Therapeutics' latest funding round not only underscores investor confidence in their pioneering gene therapy programs but also positions them to further advance therapeutic interventions for a wide spectrum of ophthalmic diseases, ultimately aiming to restore and preserve vision for patients worldwide.