Ray Therapeutics closed a $125 million Series B to advance retinal gene therapy for retinitis pigmentosa. The company said the financing will fund late-stage clinical development and commercial readiness for its lead program, RTx-015, including an upcoming registrational Phase II/III study. RTx-015 is positioned as mutation-agnostic optogenetic gene therapy intended to improve visual function by delivering light-sensitive proteins to retinal cells, with the aim of expanding eligible patient populations beyond single-mutation strategies. The round underlines sustained investor appetite for vision restoration programs with clear clinical staging plans and potential for scalable manufacturing and launch preparation.