The financing was led by Forbion, including existing investors Syncona Limited,Oxford Science Enterprises, as well as new investors TCGX and Advent Life Sciences. This funding will be used to support Beacon Therapeutics' lead gene therapy asset, AGTC-501, for the ongoing clinical development in X-linked retinitis pigmentosa (XLRP), and to obtain Phase 1/2 clinical trial data for the company’s dry age-related macular degeneration (dAMD) pipeline.Beacon Therapeutics also appointed Forbion General Partner Dmitrij Hristodorov and Wouter Joustra, as well as TCGX Managing Partner Cariad Chester, as board members. Advent Life Sciences General Partner Dominic Schmidt joined as a board observer.Beacon Therapeutics focuses on orphan and prevalent diseases, including XLRP, a blinding rare disease with no available treatments, as well as dAMD. AGTC-501 is the company’s lead asset, currently in registrational clinical trials for the treatment of XLRP. AGTC-501 expresses the full-length RPGR protein, thereby addressing all photoreceptor damage caused by XLRP, including the loss of rods and cones.
David Fellows, CEO of Beacon Therapeutics, said:"We are focused on advancing the development of ophthalmic gene therapies to preserve and restore vision in patients with a range of common and rare retinal diseases that cause blindness. I believe that with Dmitrij Hristodorov, Wouter Joustra, and Cariad Chester joining the Beacon Therapeutics board, these funds will support the continued progress of our late-stage and preclinical programs, and accelerate the development of AGTC-501 as we move forward with clinical and commercialization efforts."Dmitrij Hristodorov, General Partner of Forbion, stated:"Forbion is delighted to support Beacon Therapeutics in developing its groundbreaking ophthalmic gene therapies at this critical juncture. Beacon’s deep expertise and renowned management team give us great confidence in the plan to build a leading retinal gene therapy company."Elisa Petris, Chief Partner of Syncona Investment Management Limited and Board Director of Beacon Therapeutics, stated:"Syncona's continued support for Beacon Therapeutics demonstrates the company's proven leadership team and innovative approach in developing gene therapies for retinal diseases. This financing and collaboration with a high-quality consortium will drive Beacon’s growth, enabling the company to advance its programs targeting rare and prevalent eye conditions."To date, Beacon has raised approximately $290 million in funding. This round of financing follows several clinical milestones for the company, including the dosing of the first patient in the VISTA registration trial for AGTC-501, the launch of the DAWN Phase II trial, and the 12-month interim positive results from the SKYLINE Phase II trial presented at the 47th Annual Meeting of the Macula Society, demonstrating the precision, efficacy, and safety of Beacon’s therapeutic interventions.Beacon Therapeutics is led by David Fellows, the former CEO of Nightstar Therapeutics, who has over 40 years of experience in the ophthalmology field. Retina specialist Dr. Nadia Waheed serves as the Chief Medical Officer, joining from Gyroscope Therapeutics.AGTC'sDr. Abraham Scaria serves as the Chief Scientific Officer, bringing 25 years of experience in gene therapy, from discovery research to early clinical trials.
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