In a major boost for the UK biotech sector, an impressive sum has been raised by Beacon Therapeutics to support its R&D activities in ophthalmic gene therapies.

The merger of Freeline and SwanBio is establishing an entity with secure financing to advance their respective gene therapies for Gaucher’s disease and adrenomyeloneuropathy.

The UK firm’s substantial series A raise will help it advance a pipeline of gene therapy candidates for both rare and common retinal conditions, including a Phase II candidate rescued from a struggling biotech.

California biotech also notes prior licensing deal with Gilead for mitochondrial candidate. Twentyeight-Seven acquires RNA-splicing cancer candidate from Basilea.