Nov. 4, 2013 9:30 am

Johns Hopkins spinout GrayBug hires first full-time CEO

Since April, biotech startup GrayBug has made several important moves, the first being one of three winners in the state’s inaugural InvestMaryland Challenge and winning $100,000 from the state’s venture fund as a result.

On top of closing a recent round of nearly $1.5 million in venture funding, as Baltimore noted in late October, GrayBug recently hired its first full-time CEO, Michael O’Rourke, according to the Baltimore Business Journal.

GrayBug, which develops drug delivery tech for treating macular degeneration, a leading cause of vision loss in Americans over 60 years in age, was spun out of the Johns Hopkins University Wilmer Eye Institute.