iVeena Delivery Systems Receives Notice of Allowance for Patent Protecting IVMED-10 & IVMED-20

SALT LAKE CITY--(BUSINESS WIRE)-- iVeena Delivery Systems (iVeena), a biopharmaceutical company that develops innovative ophthalmology products, today announced that the United States Patent and Trademark Office (USPTO) communicated a Notice of Allowance for a patent assigned to the University of Utah and licensed to iVeena Delivery Systems Inc.

The patent “Intraocular Drug Delivery Device and Associated Methods” covers methods to deliver dexamethasone to anterior and posterior eye segments to control inflammation and prevent retinal thickening after cataract surgery.

“This patent protects one of the key technologies of IVMED-10 & IVMED-20 in the use of the capsule bag as a more efficient and potentially superior method to deliver medications to the front and back of the eye as compared to the standard of care” said Gerald Simmons, CEO of iVeena Delivery Systems. “As we continue clinical development for the program we are excited about the potential for improved patient outcomes. iVeena is dedicated to further developing its intellectual property portfolio for its product pipeline”.

About IVMED-10 & IVMED-20

IVMED-10 is a sustained release implant that delivers dexamethasone for 2 weeks that is placed in the lens capsule during the time of cataract surgery. It is intended for patients undergoing routine cataract extraction. IVMED-20 is a sustained release implant that delivers dexamethasone for 6 weeks. The product is placed in the lens capsule at the time of cataract surgery and is intended for patients that are at risk of developing retinal thickening in association with cataract extraction.

About iVeena Delivery Systems, Inc.

iVeena Delivery Systems, Inc. (iVeena) is a privately held biopharmaceutical company that develops innovative ophthalmology products. iVeena utilizes a proprietary intracapsular drug delivery platform to enhance a medication’s ocular bioavailability to anterior and posterior eye segments. The lead product delivers dexamethasone to treat post-cataract pain and inflammation as well as enable the prevention of retinal thickening associated with cataract extraction. The Company was formed to commercialize technology from the Moran Eye Center at the University of Utah. The Company is structured to develop product candidates through clinical trials and then out-license to pharmaceutical marketing partners. Currently, iVeena has completed a pilot clinical trial of its lead product (IVMED-10) and is preparing two additional products for clinical trials in Q1 2018 including keratoconus (IVMED-80) and prophylaxis of retinal thickening associated with cataract extraction (IVMED-20).

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