Mini Mindslayer can solo this by passing the first two turns/three, using Life Exchange, Amplify Magic, and then Mana surge. If you have any difficulty, an abyssal with Explode or another pet with Mana surge can do the last dent.
I just used an Enchanted Lantern set up 1,2,1 as described but instead of just using beam until dead i just used the same combo when it came off CD, so Flash, Light, Beam, then beamed until Flash was off CD and used the same rotation, worked perfect for me and Lantern didn't die. Thanks for your guides btw, very helpful!!
A nordrassil wisp (I used an S/S breed, though I expect that any breed would work) can practially solo this fight. Flash > Light > Arcane Explosion > Arcane Explosion > repeat. Depending on how effective flash is at making Baneglow miss, you may or may not even need a second pet.
Magic Team 1: Minfernal (H/H) - x, x, 2. Breeds with more health are preferred because damage from Explode depends on total health.
Netherspace Abyssal (H/H) - x, 2, 1. Breeds with more health are preferred because damage from Explode depends on total health.
Any Magic with a high damage 1 turn ability