Important Sequence B funding will allow medical trials of dry AMD gene remedy delivered by intravitreal injection.
British-US biotech Beacon Therapeutics has efficiently raised $170 million in a Sequence B funding spherical to advance its ophthalmic gene therapies geared toward treating retinal ailments. The funding can be used to advance its pipeline of therapies, together with shifting its dry age-related macular degeneration program into Part 1/2 medical trials.
With operations in London and Cambridge, MA, Beacon is creating gene remedy remedies designed to avoid wasting and restore imaginative and prescient for sufferers affected by retinal ailments that result in blindness. The medical stage firm has accomplished a number of medical trials that it says exhibit the “precision, effectiveness and security” of its gene remedy strategy.
Whereas a considerable portion of the brand new funds will help the medical development of Beacon’s lead program focusing on the uncommon orphan illness X-Linked Retinitis Pigmentosa (XLRP), longevity watchers can be extra within the firm’s work in dry AMD, a number one explanation for irreversible imaginative and prescient loss amongst individuals over the age of 60. The situation describes the gradual deterioration of the macula’s cells over a few years, resulting in vital visible impairment. Sufferers with dry AMD, notably in its superior levels, expertise extreme reductions in central imaginative and prescient, night time imaginative and prescient difficulties, elevated blurriness, distortion of straight traces and textual content, and a light notion of colours.
Beacon’s dry AMD program employs a novel AAV-based gene remedy delivered through an intravitreal injection. The corporate claims this methodology of supply is much less invasive in contrast with conventional surgical approaches, requires much less specialised coaching for clinicians, and will be administered in a medical setting reasonably than an working room, thus probably making it extra accessible to a broader affected person inhabitants.
The financing spherical, which brings the overall raised by Beacon to roughly $290 million, was led by Forbion, with participation from present traders Syncona Restricted, Oxford Science Enterprises, and the College of Oxford, in addition to new investments from TCGX and Introduction Life Sciences. The corporate additionally expanded its Board of Administrators, appointing Dmitrij Hristodorov and Wouter Joustra from Forbion, and Cariad Chester from TCGX, whereas Dominic Schmidt from Introduction Life Sciences joins as a Board Observer.
“We’re centered on progressing our pipeline of ophthalmic gene therapies to avoid wasting and restore the imaginative and prescient of sufferers with a spread of prevalent and uncommon retinal ailments that lead to blindness,” mentioned David Fellows, CEO of Beacon. “I’m assured that together with the addition of Dmitrij Hristodorov, Wouter Joustra and Cariad Chester to the Beacon Board, these funds will help the continuing improvement of our late-stage and pre-clinical pipeline and allow acceleration of the event of AGTC-501 as we progress by the clinic and towards commercialization.”
