iVeena Delivery Systems, Inc. is a privately held, clinical-stage ophthalmology company developing disease-modifying pharmacologic treatments for refractive diseases. Its lead candidate, IVMED-85, is a daily eye drop designed to strengthen scleral and corneal collagen crosslinks via LOX activation, with the goal of improving refraction and reducing axial elongation in pediatric myopia. IND-enabling studies are underway to support a targeted IND submission in H1-2025, and IVMED-85 is expected to begin a Phase 2 study in progressive myopia in 2025. The company previously licensed IVMED-80, an Orphan Drug Designated eye drop for keratoconus, to Glaukos Corporation. iVeena recently closed a $3 million financing to advance its pediatric myopia program. Bala Ambati, M.D., Ph.D., MBA, is president and founder, and Jerry Hu, M.D., was appointed as an independent director. iVeena is a clinical-stage biopharmaceutical focused on non-invasive, pharmacologic corneal flattening to address unmet needs in ophthalmology. Its lead program, IVMED-80, is a novel treatment for keratoconus; additional programs IVMED-85 and IVMED-95 target pediatric high myopia and adult low myopia. The company is pursuing the first non-surgical pharmacologic treatment for keratoconus, a progressive disease that can require corneal transplant. iVeena plans to use newly obtained Series B bridge financing and an SBIR Phase II grant from the National Eye Institute to advance clinical development. Specifically, the funds will support preparation for registration trials in keratoconus and initiation of pilot studies in pediatric high myopia and adult low myopia. The company is privately held and clinical-stage; no operating metrics were disclosed in the announcement.

Total raised

$3M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2025