Johns Hopkins spin-out GreyBug raises $1.5m in series A whilst announcing new CEO.
GreyBug, a life sciences company focused on developing eye disease treatments, announce both $1.5m series A and a new chief executive (CEO).
Michael O’Rourke, an 18-year veteran in ophthalmic leadership and commercialisation and a former member of GreyBug’s scientific advisory board, takes the helm as president and CEO of the Johns Hopkins University spin-out.
He comes in as the firm closed $1.5m in venture backing in a series A round supported by the Maryland Venture Fund, the Abell Foundation, and asset management firm Brown Advisory. Proceeds from the round will be used to further develop drug candidates towards GreyBug’s human trials.
O’Rourke said: “GrayBug has developed a unique approach to offer superior treatment options to patients through proprietary sustained release drug platforms. I look forward to working with the team at GrayBug to advance our lead product for the treatment of neovascular eye diseases including wet age-related macular degeneration (wet-AMD).”
