Glaukos Licenses Iveena’s Investigational Keratoconus Therapy

Glaukos has acquired an exclusive global license to develop and commercialize iVeena Delivery Systems' investigational pharmacologic treatment for keratoconus, IVMED-80. As part of the agreement, Glaukos paid $10 million upfront and will assume all costs associated with development and regulatory activities on IVMED-80. Deal terms include the potential for both development and sales milestone payments as well as royalties on sales to iVeena.

IVMED-80 is a proprietary disease modifying topical eye drop with orphan drug designation (ODD) that upregulates lysyl oxidase (LOX) and induces pharmacologic corneal crosslinking to strengthen the cornea and treat keratoconus. In a 6-month phase 1/2a clinical study, IVMED-80 met its 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 said in a company news release. “Glaukos is a strong partner to complete development of this product where, if approved, patients will have an additional keratoconus treatment option.”