Ray Therapeutics has filed a notice of an exempt offering of securities to raise $99,999,956.00 in New Equity Investment.
According to filings with the U.S. Securities and Exchange Commission, Ray Therapeutics is raising $99,999,956.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Paul Bresge played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.
About Ray Therapeutics
Ray Therapeutics is developing an optogenetic therapy, Ray-001, that has the potential to restore vision in patients with inherited blindness, beginning with our lead indication in retinitis pigmentosa. Ray-001 is designed to be injected into the eye in a clinic, using an intravitreal approach, where it diffuses from the vitreous into the retina and transduces primarily the retinal ganglion cells (RGCs). In retinitis pigmentosa, a patients photoreceptors, the primary cells required for vision, are lost and cannot regenerate. However, inner retinal neurons downstream to photoreceptors, especially RGCs, persist in significant numbers even in late-stage disease. Our optogenetic therapy Ray-001 is expected to efficiently and predominantly transduce RGCs. The gene coded therapeutic protein localizes to the RGC membrane and transduces incoming light into electrical signals sent to the visual cortex for vision. Although there are investigational gene therapy programs for RP patients, most are targeted to specific genetic mutations and patients that still have remaining photoreceptors, any of which only addresses a small percentage of the overall RP patient population. Based on the durability of treatment demonstrated in Rays animal studies, Ray-001 is intended to be a one-time treatment via intravitreal injection that is sustainable for a lifetime. This is a ground-breaking new approach to treat inherited retinal diseases, using the power of optogenetics.
To learn more about Ray Therapeutics, visit http://raytherapeutics.com/
Contact:
Paul Bresge, Chief Executive Officer
858-617-8610
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