Funding will support ongoing clinical development of optogenetic therapy to restore vision
BERKELEY, Calif.–Ray Therapeutics, a biotechnology company developing optogenetic gene therapies for vision restoration, today announced it has been awarded an $8 million grant from the California Institute for Regenerative Medicine (CIRM). The grant will support the company’s ongoing clinical development of RTx-015 for the treatment of retinitis pigmentosa (RP), a progressive and debilitating inherited retinal disease that leads to blindness.
Ray Therapeutics’ approach uses an optimized optogenetic gene therapy to deliver light-sensitive proteins to the retina of the eye to restore visual function to patients with RP, regardless of the underlying genetic cause.
“Retinitis pigmentosa remains a devastating condition with no approved treatments for the vast majority of patients,” said Paul Bresge, CEO & Co-Founder, Ray Therapeutics. “We are deeply grateful to CIRM for their belief in our science and their continued support of our programs. We are honored to partner with CIRM as we advance therapies that have the potential to transform the lives of patients.”
“Restoring vision is one of the most powerful ways we can improve quality of life,” said Jonathan Thomas, PhD, JD, President and CEO, CIRM. “Ray Therapeutics is advancing a potential breakthrough treatment for a high unmet medical need for people in California and around the world with advanced RP, for whom there are currently no treatment options. We are proud to support this exciting program.”
Ray Therapeutics’ gene therapy program received a unanimous vote of support from CIRM’s scientific and patient advocate reviewers. It was recognized by CIRM’s independent Grants Working Group (GWG) as having exceptional scientific merit and a high potential for impact, with all 15 reviewers scoring the application at the highest level.
About Retinitis Pigmentosa
RP is a genetic disease in which the photoreceptors gradually degenerate resulting in complete, or nearly complete blindness for most patients. The symptoms of RP include night blindness, reduced visual fields, and eventual loss of visual acuity. Patients are typically diagnosed in the first decades of life. It is estimated that more than half a million people are affected by RP worldwide. At present, no effective treatment is available for RP.
About Ray Therapeutics
Ray Therapeutics is a clinical-stage biopharmaceutical company advancing optogenetic therapies to restore vision in patients with severe retinal degeneration. By delivering a bioengineered, highly light-sensitive protein to targeted retinal cells, the approach is designed to improve visual function regardless of the underlying genetic mutation. The company’s lead candidate, RTx-015, targets retinal ganglion cells and is currently being evaluated in a Phase 1 clinical trial for patients with retinitis pigmentosa and choroideremia. A second program, RTx-021, which targets retinal bipolar cells, is in late-stage preclinical development for Stargardt disease and geographic atrophy secondary to age-related macular degeneration. Ray Therapeutics is headquartered in Berkeley, California. For more information, visit www.raytherapeutics.com.
About the California Institute for Regenerative Medicine (CIRM)
The California Institute for Regenerative Medicine (CIRM) is a funding agency established by Californians to accelerate regenerative medicine research to deliver treatments for patients with unmet medical needs.
Established in 2004 through the passage of Proposition 71, CIRM was initially funded with $3 billion from the state of California to support ongoing research, and in 2020, was funded again with another $5.5 billion through Proposition 14 to continue the Agency’s important work.
CIRM has provided billions in funding to support stem cell, genetic research, and development programs in its portfolio. Through the Agency’s research, infrastructure, and education programs, CIRM aims to transform the field of regenerative medicine, stimulate economic growth, and improve the lives of diverse communities throughout the state.
For more information, go to www.cirm.ca.gov.
Contacts
Media Contact:
KKH Advisors
Kimberly Ha
kimberly.ha@kkhadvisors.com
917-291-5744
Investor Relations Contact:
Christopher Whitmore
chris.whitmore@ray-tx.com
805-364-3039