12 October 2026
Syncona Limited
(“Syncona”)
Beacon Therapeutics presents data from Phase II/III pivotal VISTA trial at AAO 2026
Syncona Ltd, a leading life science investor, today announces that its portfolio company, Beacon Therapeutics (“Beacon”), has presented data from its Phase II/III pivotal VISTA trial evaluating its investigational program, laru-zova, a gene therapy for the treatment of patients with X-linked retinitis pigmentosa (“XLRP”) in a late-breaking oral presentation during Retina Subspecialty Day at the American Academy of Ophthalmology (“AAO”) Annual Meeting held 9-12 October 2026, in New Orleans, Louisiana.
The presentation followed Beacon’s topline results from the pivotal VISTA trial which were announced by Syncona on 21 September 2026. Beacon’s AAO data presentation will be available on Beacon’s website at 12:00 BST today.
Chris Hollowood, Chief Executive and Chief Investment Officer of Syncona Investment Management Limited, said: “The presentation of data from the pivotal VISTA trial is an important milestone and further strengthens our confidence in the potential of Beacon’s gene therapy, laru-zova. In addition to meeting its primary endpoint, the pivotal data has demonstrated positive outcomes across multiple measures of visual function and a favorable safety profile. This is an exciting moment for Beacon and for those living with XLRP. We look forward to continuing to support the company as it engages with global regulatory authorities and continues to advance this therapy towards patients.”
Key highlights from Beacon’s presentation
- Late-breaking oral presentation outlined data from Beacon’s Phase II/III pivotal VISTA trial, which met its FDA-endorsed primary endpoint demonstrating statistically significant low luminance visual acuity (“LLVA”1)
- 31.0% of participants in the high dose group (p=0.0019) and 24.1% of participants in the low dose group (p=0.0106) achieved an improvement of ≥15 letters in LLVA at month 12 as compared to no responders in the untreated control group, meaning laru-zova patients can now see smaller letters on an eye chart than they could before
- Early and sustained improvement in change from baseline in mean macular sensitivity as measured by microperimetry was observed in patients treated with laru-zova compared with the untreated control group, meaning an improvement in the ability of the central part of the retina to detect light
- Laru-zova demonstrated a favourable safety and tolerability profile, consistent with prior trials
Next steps
Beacon plans to engage with global regulatory authorities with initiation of a rolling Biologics License Application (“BLA”) submission planned for later this year. If approved, laru-zova could become the first approved treatment for patients with XLRP, which is a rare inherited retinal disease that causes progressive loss of vision and can ultimately lead to blindness.
Syncona’s holding in Beacon
Syncona’s holding in Beacon was valued at £183.4 million as at 30 June 2026. It comprises the value of equity (£157.3 million), and deferred consideration attributable to Syncona (£26.1 million). The valuation methodology for Syncona's equity interest in Beacon is the Price of Recent Investment, with the Series C financing announced in January 2026 being the most recent third-party mark. The deferred consideration represents Syncona’s right to a single digit percentage of all future sales or licensing of XLRP products and is valued using discounted cash flow methodology. Syncona intends to publish an updated valuation of the deferred consideration as part of its interim results.
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
Notes
- LLVA is an eye test that measures how well you can read an eye chart when a dimming filter is placed in front of your eye.
About Syncona
Syncona is a leading life science investor focused on transforming patient outcomes by translating frontier science into therapeutic reality. Our investment manager, Syncona Investment Management Limited (SIML), actively manages a maturing portfolio of leading life science companies, which are diversified across development stage, modality and therapeutic area. Syncona is focused on delivering strong risk-adjusted returns to shareholders by building and scaling its portfolio companies to late-stage development, where significant value can be realised. SIML does this by working in close partnership with world-class academic founders and experienced management teams to develop treatments with the potential for transformational patient impact. For more information, please visit www.synconaltd.com.
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