Key Highlights
- $170 million raised in Series B funding led by Forbion.
- Funds to support AGTC-501 clinical trials for X-Linked Retinitis Pigmentosa (XLRP).
- New board appointments: Dmitrij Hristodorov, Wouter Joustra, and Cariad Chester.
- Focus on orphan and prevalent retinal diseases including Dry Age-related Macular Degeneration (dAMD).
- J.P. Morgan acted as sole placement agent for the transaction.
Source: PR Newswire
Notable Quotes
- “We are focused on progressing our pipeline of ophthalmic gene therapies to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness.” — David Fellows, Chief Executive Officer at Beacon Therapeutics
- “Forbion is pleased to support Beacon Therapeutics at this critical juncture in the development of its pipeline of pioneering ophthalmic gene therapies.” — Dmitrij Hristodorov, General Partner at Forbion
- “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.” — Elisa Petris, Lead Partner at Syncona Investment Management Limited
SoHC's Take
Beacon Therapeutics’ substantial Series B funding marks a significant milestone in the advancement of gene therapies for retinal diseases. This influx of capital, led by notable investors such as Forbion and Syncona, underscores the confidence in Beacon’s innovative approach and robust pipeline. The strategic board appointments bring additional expertise and leadership to the company, positioning Beacon well for future success in the ophthalmic gene therapy space. The focus on both orphan and prevalent diseases highlights Beacon’s commitment to addressing unmet medical needs and improving patient outcomes on a broad scale.
