IN BRIEF: Syncona says Beacon passes test in preventing vision loss
Syncona Ltd - London-based life science investor - Portfolio holding Beacon Therapeutics Ltd's gene therapy laru-zova meets its primary endpoint in a phase II/III trial in treating the blinding condition X-linked retinitis pigmentosa. The endpoint, which was endorsed by the US Food & Drug Administration, was demonstrating statistically significant low luminesce visual acuity in patients at month 12, compared to a control group. XLRP is an inherited retinal disease that leads to progressive vision loss, moving from night blindness to being legally blind. Following the test results, Beacon plans a rolling biologics license application submission later this year.
Beacon is a Cambridge, Massachusetts-based clinical-stage biotechnology company focused on saving and restoring sight for people living with ocular diseases. Syncona has a 38% shareholding, which was valued at GBP183.4 million as of June 30. It says the positive trial result represents a 'key value inflection point' for Beacon, by which Syncona means a material de-risking event for one of its portfolio companies.
Current Syncona stock price: 120.03 pence, up 7.6% in London early Monday
12-month change: up 22%
By Tom Waite, Alliance News editor
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