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

Using atomic force microscopy, researchers at Doheny Eye Institute, an affiliate of UCLA, discovered retinal capillary stiffening in diabetic mice that is causally linked to the development of retinopathyPASADENA, Calif., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Doheny Eye Institute, a pioneer in vision research, is pleased to announce the publication of a novel approach to early diabetic retinopathy prevention in Diabetes, the flagship research journal of the American Diabetes Association. With the global surge in diabetes cases, the risk of diabetic retinopathy (DR), a vision-threatening complication affecting nearly 40% of all individuals with diabetes, has also escalated significantly. Late-stage DR, characterized by multiplication and leakiness of smaller blood vessels (capillaries) in the retina, often leads to vision loss. Current treatments for this stage are ineffective for many patients and involve repeated eye injections with potential complications. Managing DR at its early stages, when these retinal capillaries degenerate, is therefore deemed a preferred strategy. But exactly how these capillaries are lost in early diabetes remains poorly understood. Now, a multidisciplinary study by researchers at the Doheny Eye Institute, an affiliate of UCLA, in collaboration with vision researchers at UC Irvine, has revealed an entirely new mechanism behind the early loss of retinal capillaries in diabetes. Using atomic force microscopy, a technique originally developed for physics and materials science research, they demonstrated that retinal capillaries in diabetic mice become stiffer in the early stages. Crucially, blocking this stiffening inhibited capillary degeneration and mitigated the loss of contrast sensitivity, a common visual defect in early DR patients. These findings appear in the Nov 21 online issue of Diabetes. That diabetes causes stiffening of large blood vessels is already known. "If larger blood vessels can become stiffer in diabetes, perhaps so could the smaller retinal capillaries", reckoned Kaustabh Ghosh, senior author of the study and Associate Professor of Ophthalmology at UCLA and Doheny Eye Institute. Having identified the protein (lysyl oxidase) responsible for the increase in retinal capillary stiffness, the researchers administered an oral drug to diabetic mice that inactivated lysyl oxidase, successfully blocking capillary stiffening. Further investigation into the mechanism revealed that stiffer capillaries become more adhesive and sensitive to toxic immune cells that contribute to DR development, resulting in increased capillary cell death. Prof. Ghosh draws an analogy: "Just as increasing the tension in guitar strings changes their musical tune, increasing the tension (stiffness) in retinal capillaries changes their biological tune in response to DR risk factors, ultimately causing their degeneration." These promising findings showcase the potential of an oral drug to inhibit retinopathy, thus eliminating the need for repeated eye injections, and introduce retinal capillary stiffness as a new target for DR prevention strategies. Srinivas Sadda, MD, Professor of Ophthalmology at UCLA and Doheny Eye Institute and a world-renowned expert in retinal imaging, notes an additional potential impact on patient care: "If stiffening alters blood flow characteristics in retinal capillaries, as I would predict, new imaging techniques that can measure sensitive blood flow parameters may provide surrogates for non-invasive detection of retinal capillary stiffening in early DR patients prior to capillary loss, thereby tremendously improving clinical DR management." Link to the full article in Diabetes which will go live on November 21: https://doi.org/10.2337/db23-0584 About Doheny Eye InstituteDoheny Eye Institute is one of the nation’s leading vision research institutions with a history dating back over 75 years. Doheny scientists and clinician-scientists remain at the forefront of vision science investigating diabetic retinopathy, uveitis, age-related macular degeneration, and the use of artificial intelligence in helping to diagnose ocular disease. Since 2013, the Doheny and UCLA Stein Eye Institute affiliation combine the strength, reputation, and distinction of two of the nation’s top eye institutions to advance vision research, education, and patient care in Southern California. Together, Doheny Eye Institute and UCLA Stein Institute are ranked in the Top 5 vision centers in the country by U.S. News & World Report. For more information visit www.Doheny.org. Contact: Molly Ann Woods310-717-0955mwoods@doheny.org

SALT LAKE CITY--(BUSINESS WIRE)-- iVeena Delivery Systems Inc. (“iVeena”), a biopharmaceutical company with a developmental product in pediatric myopia is pleased to announce that Dr. Sarah Molokhia, Vice President of Research & Development for iVeena and Adjunct Assistant Professor at Department of Pharmaceutics and Pharmaceutical Chemistry at the University of Utah, was awarded a National Eye Institute Phase 1 Small Business Innovative Research (SBIR) grant of $345,000 for iVeena’s progressive myopia control drug candidate IVMED-85. Myopia occurs if the eyeball is too long or the cornea is too curved and as a result the light entering the eye isn’t focused correctly, and distant objects look blurred. Myopia generally first occurs in school-age children and progresses as the eye grows. If high myopia develops there is a lifelong increased risk of retinal detachment, cataracts, glaucoma, and myopic macular degeneration according to the American Optometric Association. IVMED-85 is an experimental topical eye drop that is designed to be administered twice-daily to slow the progression of myopia in children. Dr. Molokhia added that “The NIH and NEI have been extremely supportive of our topical eye drop for treatment of progressive myopia. This grant supports IND enabling activities.” NIH NEI Principal Investigator(s): Sarah Abdulla Molokhia, PhD. Project Title: Topical Eye Drops Increasing Lysyl Oxidase Activity to Control Myopia, 1R43EY034770-01. About IVMED-85 IVMED-85 is an investigational eyedrop formulation containing copper intended for treatment of pediatric myopia. Copper ion is a cofactor for lysyl oxidase (LOX) activity, which mediates physiologic collagen crosslinking and is reduced in myopic sclera. IVMED-85 will be the first eye drop inducing both scleral and corneal crosslinking for myopia control. About iVeena iVeena Delivery Systems, Inc. is a privately held, clinical stage ophthalmology company developing disease-modifying pharmacologic innovations for refractive diseases. iVeena has licensed its lead asset to Glaukos Corporation, IVMED-80, an Orphan Drug Designated eye drop for keratoconus. iVeena is developing IVMED-85, a first in class, investigational eyedrop formulation for pediatric myopia where it plans to initiate a first in human clinical trial 2024. View source version on businesswire.com: Contacts iVeena Delivery Systems, Inc. Michael Burr, MS, MBA Vice President of Product Development mburr@iveenamed.com Source: iVeena Delivery Systems, Inc. View this news release online at: