Beacon Therapeutics Raises $170 Million to Advance Ocular Gene Therapy

1. Funding: Beacon Therapeutics has raised $170 million in a Series B financing round.
2. Purpose: The funds will be used to support the development of its lead gene therapy asset, AGTC-501, for rare ophthalmology indications.
3. Competitor: The company aims to compete with Johnson & Johnson (J&J) in the ocular gene therapy market.
4. Lead Asset: AGTC-501 is Beacon's lead gene therapy asset, which is being developed for rare eye diseases.
5. Late-Stage Trials: The funding will be used to push AGTC-501 through late-stage clinical trials.