Beacon Therapeutics Secures $170 Million in Series B Funding for Advancement of Ophthalmic Gene Therapies
July 12, 2024, 9:45 pm
Location: United States, Florida, Alachua
Employees: 51-200
Founded date: 2023
Total raised: $170M
Beacon Therapeutics, a pioneering ophthalmic gene therapy company, has achieved a significant milestone by raising a substantial $170 million in Series B funding. This funding round, spearheaded by Forbion and bolstered by the support of Syncona Limited, Oxford Science Enterprises, the University of Oxford, TCGX, and Advent Life Sciences, marks a crucial step forward in the development of their lead asset AGTC-501 and broader pipeline initiatives.
The infusion of capital will serve as a catalyst for accelerating the progress of Beacon Therapeutics in their mission to save and restore the vision of individuals grappling with blinding retinal diseases. With a strategic focus on addressing both orphan and prevalent diseases, the company is dedicated to combating conditions such as X-Linked Retinitis Pigmentosa (XLRP) and Dry Age-related Macular Degeneration (dAMD) through their innovative gene therapy solutions.
The appointment of key industry leaders, including Dmitrij Hristodorov, Wouter Joustra, and Cariad Chester, to the Board of Directors, along with the addition of Dominic Schmidt as a Board Observer, underscores Beacon's commitment to assembling a formidable team to drive their vision forward. The collective expertise and strategic guidance of these individuals are poised to propel the company towards achieving its ambitious goals.
This latest funding milestone brings Beacon Therapeutics' total raised capital to an impressive $290 million, reflecting the confidence and support garnered from investors and stakeholders alike. The company's unwavering dedication to advancing ophthalmic gene therapies is underscored by recent clinical milestones, including the initiation of the VISTA registrational trial for AGTC-501 and the positive interim results of the Phase 2 SKYLINE trial presented at the 47th Annual Macula Society Meeting.
As Beacon Therapeutics continues to push the boundaries of innovation in the field of ophthalmic gene therapy, this significant funding injection positions the company for further growth and success. With a steadfast commitment to transforming the landscape of vision restoration, Beacon Therapeutics is poised to lead the way in revolutionizing the treatment of retinal diseases and bringing hope to patients worldwide.
The infusion of capital will serve as a catalyst for accelerating the progress of Beacon Therapeutics in their mission to save and restore the vision of individuals grappling with blinding retinal diseases. With a strategic focus on addressing both orphan and prevalent diseases, the company is dedicated to combating conditions such as X-Linked Retinitis Pigmentosa (XLRP) and Dry Age-related Macular Degeneration (dAMD) through their innovative gene therapy solutions.
The appointment of key industry leaders, including Dmitrij Hristodorov, Wouter Joustra, and Cariad Chester, to the Board of Directors, along with the addition of Dominic Schmidt as a Board Observer, underscores Beacon's commitment to assembling a formidable team to drive their vision forward. The collective expertise and strategic guidance of these individuals are poised to propel the company towards achieving its ambitious goals.
This latest funding milestone brings Beacon Therapeutics' total raised capital to an impressive $290 million, reflecting the confidence and support garnered from investors and stakeholders alike. The company's unwavering dedication to advancing ophthalmic gene therapies is underscored by recent clinical milestones, including the initiation of the VISTA registrational trial for AGTC-501 and the positive interim results of the Phase 2 SKYLINE trial presented at the 47th Annual Macula Society Meeting.
As Beacon Therapeutics continues to push the boundaries of innovation in the field of ophthalmic gene therapy, this significant funding injection positions the company for further growth and success. With a steadfast commitment to transforming the landscape of vision restoration, Beacon Therapeutics is poised to lead the way in revolutionizing the treatment of retinal diseases and bringing hope to patients worldwide.