UK—Beacon Therapeutics Holdings Limited, a leading ophthalmic gene therapy company, has announced the appointment of Lance Baldo, MD, as Chief Executive Officer, effective August 12, 2024, and Thomas Biancardi as Chief Financial Officer, effective August 1, 2024.

With over 20 years of expertise in the biopharmaceutical sector, Dr. Baldo’s impressive achievements during his time at Genentech include the successful introduction of two additional indications and a new formulation for Lucentis.

Previously, he headed the medical strategy design and implementation at Freenome, an early cancer detection startup, supporting the pipeline from clinical trials to registration and commercialization.

Prior to Freenome, Dr. Baldo was the Chief Medical Officer at Adaptive Biotechnologies, playing a pivotal role in the company’s transition from a private entity to a publicly traded company.

He has also held numerous roles within the Roche Group and its affiliates, including Senior Vice President and Head of U.S. Medical Affairs at Genentech, and Franchise Head for Ophthalmology.

David Fellows, who has led the company as CEO since Syncona Limited acquired AGTC in November 2022, will step down in January 2025 and help Dr. Baldo take over. Mr. Fellows will provide support during the transition.

During his tenure, Mr. Fellows oversaw the launch of Beacon Therapeutics in June 2023, the initiation of the Phase II DAWN trial, and the registrational VISTA trial for AGTC-501, aimed at treating X-Linked Retinitis Pigmentosa (XLRP).

Additionally, he managed the recent closing of Beacon’s US$170 million Series B funding round.

Expressing his enthusiasm about joining Beacon, Dr. Baldo highlighted the company’s advancements under Mr. Fellows’ leadership, which have positioned Beacon at the forefront of ophthalmic gene therapy.

He emphasized the company’s robust clinical pipeline, which is poised to significantly improve treatment paradigms for patients with both rare and prevalent blinding diseases.

With AGTC-501 in a registrational study, cutting-edge science, and strong financial backing, Dr. Baldo believes Beacon is well-equipped to tackle devastating inherited retinal diseases.

Thomas Biancardi, CFO

In addition to Dr. Baldo, Beacon has appointed Thomas Biancardi as Chief Financial Officer, taking over from interim CFO Andrew Prosser.

Mr. Biancardi, a veteran of the biopharmaceutical industry with over 25 years of financial and operational leadership experience, predominantly within ophthalmology, brings a wealth of expertise.

Throughout his career, he has been instrumental in raising capital and establishing clinical and commercial operations for various companies.

Remarkably, as one of the first employees of Ophthotech Corporation, he helped transform the company from a pre-clinical venture-backed startup to a publicly traded biotech firm.

He also played a crucial role in launching the first pharmacologic treatment for macular degeneration at Eyetech Pharmaceuticals.

Mr. Biancardi expressed his excitement about joining Beacon, looking forward to collaborating with Dr. Baldo, the Board, and the company’s experienced team to support Beacon’s mission of fighting blinding diseases.

He noted Beacon’s strong operational foundation and the support of a global investor syndicate as key factors in driving the company’s growth and development through market entry.

Mr. Fellows also expressed his confidence in the new appointments, stating that bringing in two experienced executives who share Beacon’s passion for developing treatments for sight-threatening diseases will accelerate the company’s growth as a leading ocular gene therapy company.

Beacon has successfully raised approximately US$290 million in funding to date. In July, the company secured a US$170 million Series B round following significant clinical achievements.

These include the dosing of the first patient in the VISTA registrational trial for AGTC-501, the initiation of the Phase II DAWN trial, and the presentation of positive 12-month interim results from the Phase II SKYLINE trial at the 47th Annual Macula Society Meeting. 

 

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