Ray Therapeutics Taps Regulatory Veteran to Guide Vision Therapies

BERKELEY, CA – February 17, 2026 – Clinical-stage biotechnology company Ray Therapeutics has made a pivotal move to bolster its leadership, appointing Michael Murtagh as its new Chief Regulatory Officer. The strategic hire signals the company's intensified focus on navigating the complex path to market for its innovative optogenetic gene therapies, which aim to restore sight to patients with severe retinal degeneration.

This appointment comes as the company advances its lead candidate, RTx-015, through clinical trials for retinitis pigmentosa (RP), a debilitating genetic disease that often leads to complete blindness. Murtagh, a seasoned expert with over two decades in regulatory affairs, joins the company at a critical juncture, bringing a wealth of experience from senior roles at Astellas Gene Therapies, BioMarin Pharmaceutical, and other pioneering biotechs.

A Strategic Move to Navigate the Regulatory Frontier

For a company operating on the cutting edge of medical science, securing a leader like Murtagh is more than a routine hire; it is a strategic necessity. The regulatory landscape for gene therapies, particularly for ocular conditions, is intricate and constantly evolving. Agencies like the U.S. Food and Drug Administration (FDA) have established specific guidance, but the novelty of the technologies requires deep expertise to successfully shepherd a product from the lab to patients.

Murtagh's track record includes leading multiple Investigational New Drug (IND) applications and marketing applications across a range of diseases. His experience at companies like Astellas and BioMarin, known for their work in gene therapy and rare diseases, provides Ray Therapeutics with the seasoned leadership needed to engage with regulatory bodies. His role will be instrumental in designing and executing the registrational pathway for RTx-015 and the company's broader pipeline.

“Michael’s strong background and wealth of knowledge across all aspects of regulatory affairs including late-stage clinical development will be instrumental for our lead candidate, RTx-015 for retinitis pigmentosa as well as our earlier-stage RTx-021 programs in Stargardt Disease and Geographic Atrophy,” said Paul Bresge, CEO & Co-Founder of Ray Therapeutics. “His appointment reflects our continued focus on building a leadership team with the expertise needed to support the development of differentiated, best-in-class optogenetic therapies for patients with vision loss.”

Advancing a New Generation of Vision Restoration

Ray Therapeutics is developing therapies based on optogenetics, a technology that introduces light-sensitive proteins into retinal cells that have survived the disease process. This approach is designed to make these remaining cells responsive to light, effectively creating new photoreceptors to restore vision. A key advantage of this method is that it is mutation-agnostic, meaning it could potentially treat patients regardless of the specific genetic error causing their blindness.

The company's lead candidate, RTx-015, targets retinal ganglion cells in patients with retinitis pigmentosa. It is currently being evaluated in a Phase 1 clinical trial (NCT06460844), dubbed the ENVISION study, which is actively recruiting up to 18 patients. The study aims to assess the safety and preliminary efficacy of a single intravitreal injection, with participants followed for five years. Critically, Ray Therapeutics' technology is engineered to be highly sensitive, with the goal of restoring vision without the need for light-amplifying goggles—a significant potential advantage for patient quality of life.

Beyond RP, the company is also advancing RTx-021, a program targeting retinal bipolar cells for the treatment of Stargardt disease and geographic atrophy, two other leading causes of blindness. This demonstrates a pipeline approach to tackling retinal degeneration.

The Competitive Race for Sight

The field of vision restoration is active and competitive. Ray Therapeutics is not alone in its pursuit of an optogenetic solution. Nanoscope Therapeutics, for instance, is a prominent competitor whose own candidate, MCO-010, is also designed to work without goggles. Nanoscope has already initiated a rolling Biologics License Application (BLA) with the FDA, positioning it as a potential first-to-market player in the space. Other companies, like GenSight Biologics and Bionic Sight, are developing optogenetic therapies that are coupled with specialized light-stimulating goggles to enhance the visual signal.

This competitive pressure underscores the importance of Murtagh’s role. Efficiently navigating the regulatory process, designing robust clinical trials with clear endpoints, and effectively communicating with the FDA will be paramount for Ray Therapeutics to differentiate its technology and carve out its place in the market. The company’s focus on a goggle-free, highly sensitive protein is its key differentiator, and proving its safety and superior efficacy will be the central challenge Murtagh and the team must address.

Backed by Capital and a Clear Vision

Ray Therapeutics' ambitious clinical and regulatory plans are supported by a strong financial foundation. In May 2023, the company secured an oversubscribed $100 million Series A financing round led by prominent life science investors. This significant capital infusion was earmarked to advance its pipeline through clinical development. More recently, in April 2025, the company's work was further validated by an $8 million grant from the California Institute for Regenerative Medicine (CIRM), specifically to support the clinical development of RTx-015.

This combination of substantial funding and strategic leadership positions the Berkeley-based company to accelerate its programs. Murtagh’s appointment is a clear signal to investors, partners, and the patient community that Ray Therapeutics is methodically executing its plan to turn groundbreaking science into a tangible reality for those affected by blindness.

In his own statement, Mr. Murtagh expressed his enthusiasm for the company's mission. “Optimized optogenetic gene therapy holds tremendous promise to improve quality of life and visual function for patients with retinal genetic diseases,” he said. “I am particularly excited to work with the Ray Therapeutics team to define the registrational pathway for RTx-015 in retinitis pigmentosa, with the goal of delivering safe, meaningful therapies to patients with high unmet need.”