News

iVeena Raises $3 Million in Series B-2 Financing for Myopia Research

iVeena Raises $3 Million in Series B-2 Financing for Myopia Research

iVeena Secures Funding to Enhance Myopia Treatment Development

SALT LAKE CITY—iVeena Delivery Systems Inc. has successfully completed its Series B-2 financing round, securing an impressive $3 million. This funding is set to significantly bolster the company’s efforts in advancing IVMED-85, an innovative treatment aimed at tackling pediatric myopia.

Investment Impact on Pediatric Myopia Program

The newly acquired funds will be instrumental in propelling iVeena’s pioneering program focused on pediatric myopia. With all key IND-enabling studies currently in progress, the company is on track for an anticipated IND submission in the first half of 2025. This strategic investment reflects the growing recognition of pediatric myopia as an important area for clinical advancement.

Welcoming Expertise: Dr. Jerry Hu Joins Board

The company is thrilled to announce the appointment of Dr. Jerry Hu to its Board as an independent director. Bala Ambati, M.D., Ph.D., MBA, the President and Founder of iVeena, expressed enthusiasm about this addition, stating, “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.” His extensive expertise is expected to guide iVeena towards achieving its ambitious goals in pediatric ophthalmology.

Understanding IVMED-85

IVMED-85 is designed as a daily eye drop solution that strengthens scleral and corneal collagen crosslinks via LOX activation. This innovative approach aims to improve refraction and reduce the rate of axial elongation, addressing one of the critical challenges in managing myopia. Looking ahead, iVeena plans to initiate a Phase 2 clinical trial for progressive myopia in 2025, marking a significant step in its research and development journey.

About iVeena Delivery Systems, Inc.

iVeena Delivery Systems, Inc. is a clinical-stage organization focused on ophthalmology, striving to develop groundbreaking pharmacologic innovations aimed at refractive diseases. The company has successfully licensed its lead asset, IVMED-80, to Glaukos Corporation. This Orphan Drug Designated eye drop targets keratoconus, showcasing iVeena's commitment to pioneering treatments in the field. In addition to this, the firm is also advancing IVMED-85, a first-in-class investigational eyedrop formulation specifically for pediatric myopia.

Frequently Asked Questions

What is the objective of the $3 million funding raised by iVeena?

The funding aims to accelerate the development of IVMED-85, a treatment for pediatric myopia, and support ongoing IND-enabling studies.

What is IVMED-85?

IVMED-85 is a daily eye drop designed to strengthen collagen crosslinks in the eye to improve refractive outcomes and slow down myopia progression.

When does iVeena plan to begin its Phase 2 clinical study for IVMED-85?

iVeena plans to initiate its Phase 2 clinical study for IVMED-85 in progressive myopia in 2025.

Who has been appointed to the iVeena Board?

Dr. Jerry Hu has been appointed as an independent director, bringing valuable expertise in ophthalmology to the company.

What other products is iVeena working on?

In addition to IVMED-85, iVeena has licensed IVMED-80, an Orphan Drug Designated eye drop for keratoconus, to Glaukos Corporation, illustrating its broader commitment to innovative eye care treatments.

About The Author

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

Top 10 Most Recent News Articles

Ericsson's Drone Tech and Share Buybacks: Impact & Insight

Updated Category News Views 50

Ericsson's Latest Move into Drone Detection Brace yourself, folks! Ericsson is taking things to a whole new altitude, literally. They're bringing drone detection capabilities right to our mobile networks. It's like they're transforming our standard network towers into stealthy drone spotters. Think about a mobile network that not only keeps your calls from dropping but...

Continue Reading
Thunes, UnionPay Revamp China Payments with $10K Daily

Updated Category News Views 140

Unveiling a New Era for Cross-Border Payments Thunes is shaking things up, unleashing a fresh wave of possibilities for moving money into China's mainland. In a strategic twist, Thunes has teamed up with UnionPay International, aiming to transform the cross-border payment experience. With a potent combo of bank-grade security and hefty daily transaction limits, this...

Continue Reading
ElektraFi Challenges Starlink: Fixed Wireless Gains Edge

Updated Category News Views 36

Revolution or Just Better Options? In the wild west of internet connectivity, where every home is a frontier, ElektraFi is throwing down the gauntlet at the feet of behemoths like Starlink. They're talking big about their fixed wireless network, and in places stretching from Colorado's ski slopes to the dustier reaches of Texas, that talk might just hold some weight. Why...

Continue Reading
NPK International Faces Shareholder Probe After Earnings Slide

Updated Category News Views 50

Guidance Games: From Boom to Bust in Three Months Ah, the fickle world of guidance and investor expectations. One minute, NPK International (NYSE:NPKI) was riding high on strong Q2 results, promising an optimistic Adjusted EBITDA of up to $103 million for 2026. Fast forward a few months, and we're looking at a sobering reality—a cutdown to $90 million to $93 million....

Continue Reading
Tactical Comm Market: $19.39B by 2031 Amid 8.1% CAGR

Updated Category News Views 81

Riding the Tactical Communication Wave Alright, here’s something to chew on over your morning coffee. The tactical communication market is projected to balloon from USD 13.14 billion in 2026 to a whopping USD 19.39 billion by 2031. That’s an 8.1% CAGR if you’re keeping track—no small peanuts. So what's driving this surge? It’s all about security, modernization,...

Continue Reading
Julie Boland's Strategic Move to Deere's Board

Updated Category News Views 56

Deere & Company Expands Leadership with Boland Out of the blue, Deer & Company (NYSE: DE) decided to shake things up by adding Julie Boland, the former U.S. honcho at Ernst & Young LLP, to their board. Now, when Deere gets a leader with her pedigree, there’s more than a whiff of strategy at play. Let’s unpack why Deere's pulling the trigger on this boardroom shift....

Continue Reading
NuvoAutoLinQ Transforms Device Connectivity Management

Updated Category News Views 60

Leapfrogging the Connectivity Conundrum Picture this: you're staring at a payment terminal that's just as lifeless as your teenager's enthusiasm on a Monday morning. The signal's full bars, yet the device's not connecting. Classic story in the world of connected devices, right? Actually, no more. Enter NuvoLinQ with its snazzy new showcase: NuvoAutoLinQ. This tech...

Continue Reading
Silicone Fluids Market Forecast Hits $10.15B by 2031

Updated Category News Views 113

Unpacking the Prevailing Expansion The global silicone fluids market is marching on a path to significant growth, projected to hit a hefty $10.15 billion by 2031. Now, if you think that's just another number, let's break down why this matters and how the market is changing its stripes. The Rising Tide of Silicone Applications Silicone fluids are not just sliding under the...

Continue Reading
FFR Sets New Sales Record, Eyes Market Expansion

Updated Category News Views 109

FFR Breaks New Ground With Record Sales Something big's brewing at FF EAI Robotics Ecosystem Inc. (NASDAQ: FFR), and it's causing quite the ripple. Picture this: 351 devices shipped in October alone. That's a hill-climbing record for this newbie on the U.S. stock scene. February was their starting line, and they've zoomed past 1,000 units in cumulative sales, chalking up...

Continue Reading
Grupo Bimbo Climbs Rankings as Top Global Employer

Updated Category News Views 0

Grupo Bimbo’s Big Leap on the Global Stage Cranking out a solid rise in reputation, Grupo Bimbo has jumped up 107 positions to seize the 444th spot in the 2026 Forbes 'World's Best Employers' list. This isn't just a one-off headline-grabber; it's a testament to the serious work going on behind the scenes at this baking giant. Clawing its way higher from rank 551 in the...

Continue Reading

Top 5 Most Recently Viewed Articles

Rivian Secures Government Support for New Electric Vehicle Plant

Updated Category News Views 196

Rivian Receives Conditional Approval for Significant Funding Rivian Automotive Inc (NASDAQ: RIVN) announced a major milestone recently, as it received conditional approval for a substantial loan from the U.S. Department of Energy, amounting to a potential $6.6 billion. This funding is anticipated to play a crucial role in the establishment of a new manufacturing facility...

Continue Reading
Exploring the Cultural Richness of the Dragon's Legend

Updated Category News Views 495

The Legend of the Dragon Explored CICG recently introduced an animated video titled "The Legend of the Dragon," delving into the depths of traditional Chinese culture. Drawing from the rich tapestry of dragon lore in Chinese mythology, this compelling video seeks to showcase the spiritual treasures of the Chinese nation and highlight its profound cultural heritage....

Continue Reading
Almadex's Strategic Drilling Insights on Paradise and New Hope

Updated Category News Views 123

Introduction to Almadex's Projects Almadex Minerals Ltd. is making significant strides in its exploration efforts with new drilling initiatives at both the Paradise Project and the New Hope porphyry project. As the company gears up for its upcoming drilling activities, the insights gained from these endeavors present exciting opportunities in mineral exploration. Drilling...

Continue Reading
Reed’s Plans Insightful Q3 2024 Financial Results Call

Updated Category News Views 101

Reed’s Plans Insightful Q3 2024 Financial Results Call Reed’s, Inc. (OTCQX: REED) is gearing up to share exciting updates during its upcoming conference call scheduled for Thursday at 8:30 a.m. Eastern time. This call promises to shed light on the company's performance for the three months ending September 30, 2024, revealing essential insights into their financial...

Continue Reading
Delta Air Lines Faces Financial Setback Amid Challenges

Updated Category News Views 166

Delta Air Lines Reports Significant Financial Impact Delta Air Lines, Inc. (NYSE: DAL) is currently navigating through some financial turbulence, with management indicating a potential $200 million hit to its pre-tax profit this quarter. This translates to approximately 25 cents per share. Despite this setback, the company remains optimistic, forecasting robust travel...

Continue Reading