Paul Bresge, Ray Therapeutics CEO

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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