iVeena Delivery Systems Announces Strategic Leadership Promotions to Accelerate Growth and Scientific Innovation

SALT LAKE CITY--(BUSINESS WIRE)--iVeena Delivery Systems, Inc. (“iVeena”), a clinical-stage ophthalmology company advancing innovative pharmacologic therapies for refractive eye diseases, today announced key executive promotions designed to strengthen operational leadership and advance its scientific vision. Effective immediately, Michael Burr, M.B.A., M.S., has been promoted to Chief Operating Officer (COO), and Sarah Molokhia, R.Ph., Ph.D., has been promoted to Chief Scientific Officer (CSO). Long time company COO Ned Weinshenker, Ph.D., is moving into the role of Vice President of Chemistry, Manufacturing, & Controls (CMC).

These strategic promotions reflect iVeena’s commitment to scaling its organizational capabilities and accelerating development of its lead asset, IVMED-85, a first-in-class investigational eye drop for pediatric myopia. The timing of the promotions coincides with the anticipated initiation of a Phase 1 study in healthy adult volunteers. iVeena previously had a positive engagement with the FDA resulting in an open investigational new drug (IND) application for the program. Study enrollment is expected to begin February 2026.

“Michael and Sarah are outstanding leaders whose contributions have been integral to iVeena’s progress,” said Barry Hannover, M.E., Co-Chair of the Board of iVeena. “As we enter the clinical phase of product development these promotions position the company for even greater success in bringing disease-modifying ophthalmic therapies to patients worldwide.”

Michael Burr, Chief Operating Officer

In his new role as COO, Michael Burr will oversee company-wide operations, driving strategic execution across development programs, corporate initiatives, and cross-functional activities. With more than 15 years of experience in ocular drug delivery and device development, Mr. Burr previously served as Vice President of Product Development at iVeena, where he led product strategy for pipeline assets. His leadership contributed to key milestones, including financing rounds, regulatory submissions, and an executed licensing agreement with Glaukos Corporation.

Sarah Molokhia, Chief Scientific Officer

Dr. Sarah Molokhia steps into the role of Chief Scientific Officer with responsibility for shaping the company’s scientific strategy, research priorities, and clinical translation activities. As former Vice President of Research & Development, she has spearheaded critical research in ocular drug delivery, including IND-enabling work for IVMED-85 and securing competitive grant funding to support preclinical progress in myopia control. Her scientific leadership ensures alignment of iVeena’s research portfolio with emerging opportunities in refractive eye diseases and other unmet needs in ophthalmology.

About IVMED-85

Lead program IVMED-85 is a new chemical entity (NCE), preservative-free prescription eye drop to prevent myopic progression. IVMED-85 is a non-surgical, non-invasive, non-atropine 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.

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 eye drop formulation for pediatric myopia.