REG - Syncona Limited - Beacon raises $75m in oversubscribed Series C

SynconaAnnouncement

08/01/2026 12:15

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RNS Number : 2012O  Syncona Limited  08 January 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

08 January 2026

 

Syncona Limited

 

("Syncona")

 

Beacon Therapeutics raises $75 million in oversubscribed Series C financing

 

·    Ahead of pivotal data in H2 CY2026, Beacon secures new funding to
accelerate commercial preparations for its potentially best-in-class gene
therapy, laru-zova

·    Syncona invests $24.5 million (£18.1 million), in Beacon's $75
million (£55.6 million 1 ) Series C financing, alongside a leading global
syndicate including new investors Goldman Sachs Alternatives, the Retinal
Degeneration Fund and existing investors

·    Syncona's holding in Beacon written up by £29.3 million (5p per
share); a 20.0 per cent uplift to the holding value at 30 September 2025 2 

·    Including new capital invested, Syncona's holding value of Beacon
will be $237.6 million (£176.3 million) 3 , and on drawdown of the full
Series C financing, Syncona's ownership stake in the business will be 38.4 per
cent

 

Syncona Ltd, ("Syncona" or the "Company") a leading life science investor,
today announces that it has committed $24.5 million to a $75 million (£55.6
million) Series C financing of its portfolio company Beacon Therapeutics
("Beacon"), a leading ophthalmic gene therapy company with a purpose to save
and restore the vision of patients with blinding retinal diseases.

 

The oversubscribed Series C financing was led by Goldman Sachs Alternatives
with participation from a new investor, the Retinal Degeneration Fund, the VC
arm of Foundation Fighting Blindness and existing investors, Forbion, Oxford
Science Enterprises, and Advent Life Sciences.

 

This latest financing brings the total amount that Beacon has raised in
funding to date to approximately $367 million (£285 million). The funds will
be used to complete the development of lead programme, laru-zova, a potential
best-in-class gene therapy currently being investigated for the treatment of
patients with X-linked retinitis pigmentosa (XLRP) and to progress
commercialization plans. The funds will also be used to help support the
development of Beacon's pipeline candidates for Geographic Atrophy (GA), an
inherited cone rod dystrophy and another undisclosed asset.

 

Following the Series C financing, Syncona's holding in Beacon has been written
up by £29.3 million, a 20.0 per cent uplift to the holding value at 30
September 2025. Including new capital invested, Syncona's holding value of
Beacon will be $237.6 million (£176.3 million) and on drawdown of the full
Series C financing, Syncona's ownership stake in the business will be 38.4 per
cent.

 

Beacon is focused on both rare and prevalent diseases, including XLRP, a
blinding orphan disease for which there is no available treatment, and GA.
Beacon has generated a strong set of clinical data supporting the therapeutic
benefit and safety profile of laru-zova, its gene therapy for the treatment of
XLRP. The company continues to show strong momentum as it progresses through
the clinic, reinforced by the initiation of its pivotal VISTA trial, which
completed enrolment in July 2025 and where it expects to report clinical data
in the second half of calendar year 2026.

 

Elisa Petris, Managing Partner at Syncona Investment Management Limited and
Board Director of Beacon Therapeutics, said: "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.
We look forward to continuing to work closely with the management team to
deliver on the company's purpose to save and restore the vision of patients in
real need."

 

"This significant fundraising, led by new blue-chip investor Goldman Sachs,
validates our strategy to save and restore sight for people living with rare
and prevalent ocular diseases," said Lance Baldo, MD, Chief Executive Officer
of Beacon Therapeutics. "With pivotal laru-zova data expected in the second
half of 2026, these funds will accelerate our commercial preparations for this
potentially life-changing product, as well as advance and expand our pipeline.
We thank our new and existing investors for their confidence in our mission to
deliver lasting impact in blinding ocular diseases."

 

The person responsible for making this announcement on behalf of the Company
is Marc Perkins, General Counsel of SIML.

 

Enquiries

 

Syncona Ltd

 

Annabel Clark

Tel: +44 (0) 20 3981 7940

 

FTI Consulting

 

Ben Atwell / Natalie Garland-Collins / Tim Stamper

Tel: +44 (0) 20 3727 1000

 

Forward-looking statements - this announcement contains certain
forward-looking statements with respect to the portfolio of investments of
Syncona Limited. These statements and forecasts involve risk and uncertainty
because they relate to events and depend upon circumstances that may or may
not occur in the future. There are a number of factors that could cause actual
results or developments to differ materially from those expressed or implied
by these forward-looking statements. In particular, many companies in the
Syncona Limited portfolio are conducting scientific research and clinical
trials where the outcome is inherently uncertain and there is significant risk
of negative results or adverse events arising. In addition, many companies in
the Syncona Limited portfolio have yet to commercialise a product and their
ability to do so may be affected by operational, commercial and other risks.

 

Syncona Limited seeks to achieve returns over the long term. Investors should
seek to ensure they understand the risks and opportunities of an investment in
Syncona Limited, including the information in our published documentation,
before investing.

 

 

 

 

 1  At 05 January 2026

 2  When adjusted for investment of £21.5 million since 30 September 2025 and
immaterial FX movements

 3  $237.6m includes value of Deferred Consideration and royalties held by
Syncona relating to Beacon

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