National Eye Institute awards iVeena SBIR Phase II Grant
SALT LAKE CITY–(BUSINESS WIRE)–iVeena, a clinical stage biopharmaceutical company with products in development for unmet needs in ophthalmology, announces the successful completion of the Series B preferred stock bridge round. The company was also awarded with a SBIR Phase II grant award from the National Eye Institute (NEI) of the National Institutes of Health (NIH). These investments will be used to advance the clinical development programs for the treatment of keratoconus and pediatric high myopia and adult low myopia.
“The Series B funds, along with the NEI grant, will enable iVeena to prepare for registration trials in keratoconus and initiate pilot studies in pediatric high myopia and adult low myopia,” said Jerry Simmons, CEO.
Keratoconus is a progressive eye disease that causes the cornea to become cone shaped and can impair vision to the point that a cornea transplant may be needed. iVeena is pursuing the first non-surgical, pharmacologic treatment for keratoconus.
Myopia is a major epidemic with global unmet medical need for which no approved pharmacologic treatment is currently available in the U.S.
iVeena Delivery Systems, Inc. (iVeena) is a privately held, clinical stage biopharmaceutical company focusing on expanding its platform technology for non-invasive, pharmacologic corneal flattening to develop products that address unmet medical needs in ophthalmology.
The company’s lead program is IVMED-80, a novel treatment for keratoconus. iVeena is also developing IVMED-85 and IVMED-95 for the treatment of pediatric high myopia and adult low myopia respectively.
Michael Burr, MS, MBA
Vice President Product Development