Carl Zeiss Meditec Invests in Oraya Therapeutics
CZM invests an undisclosed amount in Oraya over a two-year period to facilitate Oraya’s growth strategy
Mark Hillen |
Oraya Therapeutics Inc., a privately-held company that produces a low-energy, stereotactic radiotherapy instrument, IRay, for the treatment of wet AMD, are to receive funding from Carl Zeiss Meditec (CZM) for “the implementation of its growth strategy over a period of up to two years”, according to a CZM press release (1). In return, CZM will receive share purchase rights – up to a majority stake – after this two-year period. The funding amount has not been divulged, but in discussing the transaction, Ludwin Monz, CZM’s CEO stated: “The current pharmaceutical treatment regimens for wet AMD are exceptionally costly and burdensome, and Oraya’s unique therapy offers a significant potential to positively impact the management of this debilitating disease.”
Clearly, there’s value in the investment for CZM, but to discover what the deal means for Oraya Therapeutics, we spoke to it’s CEO, Jim Taylor.
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