Ray Therapeutics closed a $125 million Series B financing to advance RTx-015, its optogenetic retinal gene therapy in patients with retinitis pigmentosa. The company said the round funds late-stage clinical development and commercial readiness, including an upcoming registrational Phase II/III study. RTx-015 is positioned as “mutation-agnostic,” aiming to improve visual function regardless of underlying genetic mutations by delivering engineered light-sensitive proteins to retinal cells. Ray framed the program around the high unmet need in RP, citing that there are no approved therapies capable of restoring lost vision. From a development standpoint, the funding signals confidence in moving beyond early proof-of-concept into pivotal design. For gene-therapy competitors, it also highlights a widening emphasis on delivery approaches that can broaden eligible patient populations beyond single-mutation cohorts.