With a platform of interesting preclinical assets and a Phase III-ready program from a collapsed biotech business, new company Beacon Therapeutics can claim unconventional origins. 

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.

The rate of growth of the pharma pipeline slowed last year as oncology and rare diseases tightened their grip on R&D. There are also further signs of China’s rise in importance in the industry.

Rumors have resurfaced that Novartis is looking to shift some of its eye drugs but the Basle-based behemoth tells Scrip it remains committed to in-market products and R&D projects in the ophthalmology space.