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iVeena Delivery Systems

iVeena Delivery Systems

Salt Lake City, United States· Est.
iveenamed.com
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Private Company

Total funding raised: $12.5M

Overview

iVeena Delivery Systems is a clinical-stage biotech company pioneering pharmacologic treatments for refractive eye diseases, with a focus on keratoconus and pediatric myopia. The company has achieved key milestones, including an Orphan Drug Designation for IVMED-80 and an open IND for IVMED-85, supported by recent Series B-2 financing. Led by a team with deep expertise in ophthalmology and drug delivery, iVeena is advancing its first-in-class eyedrop formulations into clinical trials to address significant unmet needs in ocular health.

OphthalmologyRefractive Diseases

Technology Platform

Proprietary ocular drug delivery platform for topical eye drop formulations targeting disease modification in refractive eye conditions.

Funding History

2
Total raised:$12.5M
Series A$10M
Seed$2.5M

Opportunities

The global pediatric myopia epidemic represents a multi-billion dollar market with no FDA-approved pharmacologic therapy, creating a massive first-mover opportunity for IVMED-85.
Additionally, the successful licensing of IVMED-80 to Glaukos validates the platform and provides a potential future revenue stream, allowing the company to focus resources on its lead internal program.

Risk Factors

The company faces high clinical risk as its lead internal asset, IVMED-85, enters unproven human trials.
As a private, pre-revenue company, iVeena is also dependent on raising additional capital in a competitive funding environment to finance costly later-stage clinical development.

Competitive Landscape

In myopia control, competition includes off-label low-dose atropine, specialty contact lenses (MiSight), and emerging therapies from other biopharma companies. For keratoconus, the standard of care is procedural (corneal cross-linking), making IVMED-80 a novel pharmacologic competitor in a space with limited drug-based alternatives.

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