iVeena Delivery Systems – a biopharmaceutical company advancing IVMED-85 to treat pediatric myopia – announced that it has closed its fully subscribed Series B-2 financing of $3 million.
This funding will support iVeena’s pursuit of advancing their innovative pediatric myopia program. And all IND-enabling studies are well underway supporting a targeted IND submission in H1-2025.
IVMED-85 is a daily eye drop that strengthens scleral and corneal collagen crosslinks with LOX activation, potentially leading to improved refraction and a decrease in the rate of axial elongation. IVMED-85 will begin a Phase 2 clinical study in progressive myopia in 2025.
iVeena Delivery Systems is a privately held, clinical-stage ophthalmology company developing disease-modifying pharmacologic innovations for refractive diseases. iVeena has licensed its lead asset to Glaukos IVMED-80, an Orphan Drug-Designated eye drop for keratoconus. And iVeena is also developing IVMED-85, a first-in-class, investigational eyedrop formulation for pediatric myopia.
KEY QUOTE:
“We are pleased to welcome Dr. Jerry Hu to our Board as an independent director. 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.”
- President and founder Bala Ambati, M.D., Ph.D., MBA
