# iVeena Delivery Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/iveena-delivery-systems

- Industry: Biotechnology
- Headquarters: Salt Lake City, US
- Website: www.iveenamed.com/
- Total disclosed funding: $1.9M
- Latest round: Seed (Dec 18, 2015)
- Investors on record: 4

## About

Based in the US, iVeena Delivery Systems Inc. focuses on developing innovative pharmacologic solutions for refractive diseases, particularly in the ophthalmology sector, offering targeted treatments for conditions affecting vision.iVeena Delivery Systems Inc. specializes in developing pharmacologic solutions for refractive diseases. Founded in 2014 and headquartered in Salt Lake City, US, the company has executed 9 deals to date. The CEO, Gerald Simmons, leads the company as it continues to innovate in the ophthalmology sector. The most recent funding round was a Series B in February 2025, raising USD 3.00 mn, which supports the advancement of their pediatric myopia program.iVeena Delivery Systems, Inc. specializes in developing innovative pharmacologic solutions targeted at refractive diseases, focusing on the ophthalmology sector. The primary products include IVMED-80, an Orphan Drug Designated eye drop for keratoconus, and IVMED-85, an investigational eye drop for pediatric myopia. These products aim to modify disease progression, serving ophthalmology patients, particularly children with myopia and individuals with keratoconus, in the US and potentially expanding into international markets as regulatory approvals are secured.iVeena Delivery Systems generates revenue mainly through strategic partnerships and licensing agreements, such as its lead asset IVMED-80, licensed to Glaukos Corporation. The agreements entail milestone payments and royalties based on product sales, supporting both B2B and direct-to-consumer approaches. As the company advances clinical-stage products, it may seek additional collaborations to enhance market reach with its eye drop formulations.In February 2025, iVeena Delivery Systems Inc. secured USD 3.00 mn in Series B funding, which will be utilized to advance their pediatric myopia program. The company is exploring the launch of new products aimed at addressing refractive diseases and plans to expand into new geographic markets as it navigates regulatory processes. The strategic use of recent funding will bolster efforts to develop impactful therapies in the ophthalmology sector.

## Funding rounds

- Seed, Dec 18, 2015, $0.6M — Park City Angels, PC Squared
- Series A, Sep 25, 2015, $1.3M — Technology Ventures Corp, Park City Angels, SLC Angels

## Investors

- Technology Ventures Corp — Series A
- Park City Angels (https://capitalatlas.ai/funds/park-city-angels) — Series A, Seed
- SLC Angels — Series A
- PC Squared — Seed