JENA/Germany, 07.01.2015. Carl Zeiss Meditec AG and Oraya Therapeutics, Inc. (Oraya) jointly announced that the companies have entered into a collaboration agreement under which Carl Zeiss Meditec will provide funding to Oraya over a period of up to two years for the implementation of Oraya's growth strategy, and in turn receive rights in the company reaching up to a majority stake after two years.
Oraya Therapeutics, Inc. (Newark CA) has developed and commercialized a low energy X-ray radiation therapy (the Oraya Therapy ) for the treatment of wet age-related macular degeneration (wet AMD). The Oraya Therapy is available commercially in Germany, the UK and Switzerland, and the collaboration is intended to accelerate and expand these initial European market developments. While specific terms of the agreement were not disclosed, the companies noted that Carl Zeiss Meditec will be making a meaningful strategic investment in Oraya, and that further opportunities to leverage the companies' respective technical and market expertise and resources will be reviewed.
In discussing the transaction, Dr. Ludwin Monz, President and CEO of Carl Zeiss Meditec AG, stated: The current pharmaceutical treatment regimens for wet AMD are exceptionally costly and burdensome, and Oraya's unique therapy offers a significant potential to positively impact the management of this debilitating disease. He went on to add that ZEISS has a long tradition of bringing new and innovative technologies to the ophthalmic market, from the earliest slit lamps, to category leading products such as glaucoma field analyzers, Optical Coherence Tomography (OCT) and innovative femtosecond laser platforms. These types of technology innovations, all offering significant provider and patient benefits, are part of the core strategy of Carl Zeiss Meditec AG.
Commenting on the agreement, Jim Taylor, CEO of Oraya, stated: It is exceptionally rewarding to have the support and validation that are inherent in this commitment by Zeiss, a company universally recognized for its commitment to excellence in science as well as in patient-focused and physician-focused products and innovations. As a result of this collaboration, we have effectively enhanced our potential to positively impact patient outcomes, while significantly reducing the therapy burden for clinicians and providers as well.
Age-related macular degeneration is one of the leading causes of blindness in the developed world. More than 90% of heavy loss of sight related to AMD can be traced back to wet AMD.
In the USA the IRay is an investigational device and is not available for sale.
Jann Gerrit Ohlendorf
Director Corporate Communications
Carl Zeiss Meditec AG
Phone: +49 3641 220-331
Fax: +49 3641 220-332
press.meditec@zeiss.com
Sebastian Frericks
Investor Relations
Carl Zeiss Meditec AG
Phone: +49 3641 220-116
investors.meditec@zeiss.com
Carl Zeiss Meditec AG
Carl Zeiss Meditec AG (ISIN: DE 0005313704), which is listed on TecDAX of the German stock exchange, is one of the world's leading medical technology companies. The Company supplies innovative technologies and application-oriented solutions designed to help doctors improve the quality of life of their patients. It provides complete packages of solutions for the diagnosis and treatment of eye diseases, including implants and consumable materials. The Company creates innovative visualization solutions in the field of microsurgery. The medical technology portfolio of Carl Zeiss Meditec is rounded off by promising, future-oriented technologies such as intraoperative radiotherapy. With almost 3,000 employees, the Group generated revenue of 909 million in financial year 2013/2014 (to 30 September).
The head office of Carl Zeiss Meditec is in Jena, Germany. The Company has subsidiaries in Germany and abroad; more than 50 percent of its employees are based in the USA, Japan, Spain and France. The Center for Research and Development (CARIn) in Bangalore, India and the Carl Zeiss Innovations Center for Research and Development in Shanghai, China, strengthen the presence in these rapidly developing economies. Around 35 percent of Carl Zeiss Meditec shares are in free float. The remaining approx. 65 percent are held by Carl Zeiss AG, one of the world's leading groups in the optical and optoelectronic industries. Carl Zeiss offers innovative solutions for the future-oriented markets Industrial Solutions, Research Solutions, Medical Technology and Consumer Optics. Carl Zeiss AG, Oberkochen, is wholly owned by the Carl Zeiss Foundation.
For more information visit:
www.zeiss.com/meditec
Oraya Therapeutics, Inc.
Oraya Therapeutics, Inc. is a privately held company that has developed an innovative and non-invasive therapy for wet age-related macular degeneration, or wet AMD. Founded in 2007, headquartered in Newark, California, and actively supported by leading medical technology investors, Oraya is dedicated to advancing the treatment of wet AMD through the development and commercialization of Oraya Therapy. This approach uses a low-voltage, stereotactic, X-ray radiosurgical device designed specifically for treatment in an outpatient setting. Oraya Therapy delivers a precise dose of X-ray radiation non-invasively to the macula using an automated positioning system, a proprietary localizing algorithm, and a novel methodology for eye stabilization and tracking.
The non-invasive Oraya Therapy is rapid, comfortable for the patient, and easy for a trained operator to perform. Recent clinical trials have demonstrated that the therapy can reduce the required number and frequency of anti-VEGF injections, while achieving equivalent visual acuity and slowing disease progression. Oraya Therapy should ease the burden for patients and their families, and for retinal physicians and their practices, whil
