-

iVeena Secures $3 Million in Series B-2 Financing to Accelerate Development of IVMED-85 for Myopia

Jerry Hu, M.D. appointed to Board of Directors

SALT LAKE CITY--(BUSINESS WIRE)--iVeena Delivery Systems Inc. (“iVeena”), a biopharmaceutical company advancing IVMED-85 for the treatment of pediatric myopia, today announced that it has closed its fully subscribed Series B-2 financing of $3 million.

This investment will support iVeena’s pursuit of advancing their innovative pediatric myopia program. All IND-enabling studies are well underway supporting a targeted IND submission in H1-2025.

“We are pleased to welcome Dr. Jerry Hu to our Board as an independent director,” said President and Founder, Bala Ambati, M.D., Ph.D., MBA. “Dr. Hu is a world-renowned ophthalmologist who stands at the forefront of cutting-edge ophthalmic innovations bringing significant value to our long-term strategy.”

About IVMED-85

IVMED-85 is a daily eye drop that strengthens scleral and corneal collagen crosslinks through LOX activation, potentially leading to improved refraction and a decrease in the rate of axial elongation. IVMED-85 is expected to begin a Phase 2 clinical study in progressive myopia in 2025.

About iVeena

iVeena Delivery Systems, Inc. is a privately held, clinical stage ophthalmology company developing disease-modifying pharmacologic innovations for refractive diseases. iVeena has licensed its lead asset to Glaukos Corporation, IVMED-80, an Orphan Drug Designated eye drop for keratoconus. iVeena is developing IVMED-85, a first in class, investigational eyedrop formulation for pediatric myopia.

Contacts

Corporate Contact:
Michael Burr, MS, MBA
Vice President of Product Development
mburr@iveenamed.com

Industry:

iVeena Delivery Systems, Inc.

Release Versions
English

Contacts

Corporate Contact:
Michael Burr, MS, MBA
Vice President of Product Development
mburr@iveenamed.com

Social Media Profiles
iVeena LinkedIn
More News From iVeena Delivery Systems, Inc.

iVeena Delivery Systems Announces Positive End-of-Phase 1 FDA Meeting for IVMED-85

SALT LAKE CITY--(BUSINESS WIRE)--iVeena Delivery Systems, Inc., “iVeena” a clinical-stage ophthalmic pharmaceutical company developing innovative therapies for eye diseases, today announced a successful End-of-Phase 1 Type B meeting with the U.S. Food and Drug Administration (FDA) for IVMED-85, an investigational, non-atropine eye drop being developed for the treatment of pediatric myopia. The meeting followed the recently announced successful completion of iVeena's Phase 1 clinical study evalu...

iVeena Delivery Systems Announces Successful Completion of Phase 1 Clinical Study of IVMED-85

SALT LAKE CITY--(BUSINESS WIRE)--iVeena Delivery Systems, Inc., (“iVeena”) a clinical-stage ophthalmic biopharmaceutical company, today announced the successful completion of its Phase 1 clinical trial evaluating the safety of IVMED-85, an investigational, preservative-free ophthalmic solution being developed for the treatment of pediatric myopia. iVeena has completed the first-in-human, randomized, double-masked, vehicle-controlled Phase 1 study, which demonstrated a favorable safety profile a...

iVeena Delivery Systems Announces First Patient Dosed in Phase 1 Study of IVMED-85 in Healthy Adult Volunteers

SALT LAKE CITY--(BUSINESS WIRE)--iVeena Delivery Systems, Inc. (“iVeena”), a clinical-stage ophthalmology company developing novel pharmacologic therapies for refractive eye diseases, today announced that the first participant has been dosed in its Phase 1, first-in-human clinical study of IVMED-85 in healthy adult volunteers. The Phase 1 study is designed to evaluate the safety and tolerability of twice daily dosing of IVMED-85. The randomized, controlled trial is enrolling healthy adult volun...
Back to Newsroom