Glaukos, iVeena Ink Licensing Deal

Glaukos has begun a licensing deal with iVeena Delivery Systems, a clinical-stage biopharma firm with developmental products in keratoconus and pediatric myopia, whereby Glaukos was granted exclusive global license to develop and commercialize iVeena’s IVMED-80 pharmacologic keratoconis treatment.
 
Keratoconus is a rare corneal disorder that is the main cause for primary full-thickness corneal transplantation in the U.S. IV-MED is a disease modifying topical eye drop that upregulates lysyl oxidase (LOX) and induces pharmacologic corneal crosslinking to strengthen the cornea and treat keratoconus.
 
In a six-month phase 1/2a clinical study, IVMED-80 met the primary endpoint of a statistically significant reduction in baseline-adjusted Kmax of 1.0 D relative to placebo (p=0.0199; paired longitudinal analysis).
 
“We are pleased to complete this agreement with Glaukos. This deal validates the technology we have developed at iVeena to induce corneal crosslinking pharmacologically via eyedrops,” iVeena CEO Jerry Simmons told the press. “Glaukos is a strong partner to complete development of this product where, if approved, patients will have an additional keratoconus treatment option.”
 
Glaukos paid $10 million upfront for the agreement and will take all IVMED-80 regulatory and development costs. Deal terms also include potential for development and sales milestone payments and royalties on sales to iVeena.