On a personal mission for his daughter, Paul Bresge launches another eye disease biotech with $100M for Ray Therapeutics
As Paul Bresge’s former ophthalmology biotech gears up for a Phase III cell therapy study in retinitis pigmentosa, he’s out with another drug development startup, this time tackling the rare, degenerative retinal disease with a gene therapy expected to enter a Phase I trial next year.
To get there, and launch the global clinical trial of RTx-015, Ray Therapeutics has raised $100 million in Series A funds that will also bankroll an expansion into a rare, genetic eye disease known as Stargardt’s as well as geographic atrophy, a leading cause of blindness for which there is now a treatment, as of February’s Apellis Pharmaceuticals approval.
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