Newark’s Oraya Therapeutics lands $42M more for Wet AMD Treatment Trial

Oraya, which now has raised $64 million in little more than two years, will use the latest round of cash to expand its clinical trials for its treatment of wet age-related macular degeneration, a common cause of blindness.

The 22-employee company’s treatment uses what it calls the IRay system, a robotically controlled, localized dose of low-energy X-ray radiation to the macula. The system is designed to be placed in almost any medical setting, the company said.

http://www.bizjournals.com/sanfrancisco/stories/2009/07/20/daily9.html

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