IN BRIEF: Syncona invests GBP18 million in Beacon financing round

Syncona Ltd - London-based investor in life science companies - Invests USD24.5 million in ophthalmic gene therapy company Beacon Therapeutics' USD75 million Series C financing. Says the financing round was oversubscribed and brings Beacon's total funding raised so far to approximately USD367 million. Beacon will use the proceeds "to progress commercialisation plans" and to complete the development of its lead programme laru-zova, "a potential best-in-class gene therapy" for X-linked retinitis pigmentosa, Syncona says. Syncona's holding value of Beacon will now be USD237.6 million, including new capital invested, and it will hold a 38.4% ownership stake.

Elisa Petris, managing partner at Syncona Investment Management Limited and director at Beacon, comments: "We are delighted that Beacon has attracted further external financing, underlining the progress the team has made and scale of the company's ambition. Beacon has generated a differentiated set of data demonstrating the potentially transformational benefit of laru-zova for patients with devastating blinding conditions. We believe the combination of the clinical data generated and this further funding provides the company with a significant opportunity to lead its field."

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By Emma Curzon, Alliance News reporter

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