Beacon Therapeutics Holdings Limited, a London-based ophthalmic gene therapy company, announced on Wednesday that it has raised USD170m in Series B funding.

The financing was headed by Forbion and included present investors Syncona Limited, Oxford Science Enterprises and the University of Oxford, and initial investments from TCGX and Advent Life Sciences.

The proceeds are to be utilised to support the continued clinical development of Beacon's lead asset, AGTC-501 for X-Linked Retinitis Pigmentosa (XLRP) and generate Phase 1/2 clinical trial data for the firm's Dry Age-related Macular Degeneration (dAMD) program.

The sold placement agent to Beacon Therapeutics for the deal was JP Morgan.