Beacon Therapeutics raises $170 million in a Series B financing 

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Life science investors Syncona have committed $42.5 million to Beacon Therapeutics’ $170 million Series B financing round, bringing the total amount that Beacon has raised in funding to date to approximately $290 million. The funds will be used to support the continued clinical development of AGTC-501 for X-linked retinitis pigmentosa (XLRP) and to generate Phase I/II clinical trial data for Beacon’s dry age-related macular degeneration (dAMD) programme.  

Forbion led the round and, alongside Syncona, the financing was supported by existing investors Oxford Science Enterprises and the University of Oxford, and new investors TCGX and Advent Life Sciences. 

Beacon is focused on both rare and prevalent diseases, including XLRP, a blinding orphan disease for which there is no available treatment and dAMD, a leading cause of irreversible vision loss in people over 60. Beacon’s lead asset, AGTC-501, is currently in a Phase II/III registrational trial for the treatment of XLRP, which is expected to read out in CY2026. Beacon presented encouraging 12-month efficacy data from the Phase II SKYLINE trial of AGTC-501 during the year, and 24-month data is expected in H2 CY2024.  

Elisa Petris, Lead Partner at Syncona Investment Management Limited and Board Director of Beacon Therapeutics, said: “Beacon has secured a high-quality syndicate of investors to support the ongoing development of its lead clinical candidate AGTC-501 and broader pipeline. The strength and calibre of this global group of life science investors provides important external validation of Beacon’s technology and progress to date. We have leveraged our expertise and network to support Beacon thus far, from identifying the opportunity to acquire a late-stage asset in AGTC, to supporting this financing today. We look forward to continuing to work closely with the company and our syndicate partners to advance its solutions for debilitating blinding retinal diseases through the clinic and towards patients.”  

David Fellows, Chief Executive Officer of Beacon Therapeutics, said: “We are focused on progressing our promising pipeline of ocular gene therapies to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. These funds will support the ongoing development of our late-stage and preclinical pipeline and enable acceleration of the development of AGTC-501, as we progress through the clinic and toward commercialisation. We are delighted to extend our strong group of investors and look forward to working with them to ambitiously pursue our strategy.” 

Megan Thomas, Multimedia Editor, DDW

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