Oraya garners $42M in third venture round

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Oraya Therapeutics has raised $42 million in Series C financing, which it plans to use to finance an expansion of its clinical trials of radiosurgical treatments for eye diseases.

Newark, CA-based Oraya is conducting two independent international studies for its treatment of wet age-related macular degeneration. Scale Venture Partners and Domain Associates led the round; current investors Essex Woodlands Health Ventures and Synergy Life Partners also participated. Mark Brooks, a Managing Director with ScaleVP, and Brian Halak, a Partner with Domain Associates, have joined the board.

"We are very pleased to welcome Mark and Brian to the board at a critical stage for the company," said Michael Gertner, M.D., founder and CEO of Oraya. "We believe our approach to treating AMD will result in a paradigm shift, and are seeing encouraging data from our current trials. We are eager to continue trials of the IRay system both in the U.S. and internationally."

- check out the Oraya release