Burns & Levinson Represents iVeena Delivery Systems, Inc. in Strategic Licensing Agreement with Glaukos Corporation


Burns & Levinson is pleased to announce that it represented iVeena Delivery Systems, Inc. (iVeena), a clinical stage biopharmaceutical company with developmental products in keratoconus and pediatric myopia, in a strategic licensing agreement with Glaukos Corporation (NYSE: GKOS). On August 24, iVeena announced that it has licensed its lead asset, IVMED-80, an Orphan Drug Designated eye drop for keratoconus to Glaukos. The agreement grants Glaukos an exclusive global license to develop and commercialize IVMED-80. As part of the agreement, Glaukos paid $10 million upfront and will assume all costs associated with the development and regulatory activities on IVMED-80. In addition, deal terms include the potential for both development and sales milestone payments as well as royalties on sales to iVeena.

The Burns & Levinson intellectual property team was led by Partner Bruce Jobse, who provided advice and counsel during the drafting and negotiations of the license agreement with Glaukos.

iVeena Delivery Systems, Inc. is a privately held, clinical stage ophthalmology company developing disease-modifying pharmacologic innovations for refractive diseases. iVeena is also developing IVMED-85, a first in class, investigational eyedrop formulation for pediatric myopia where it plans to initiate a first in human clinical trial early 2023.

About Burns & Levinson LLP

At Burns & Levinson, we provide high-level, client-centric and results-oriented legal services to our regional, national and international clients. We are a full-service law firm with 125 lawyers in Boston, Providence and London. Our areas of expertise include: business/finance, business litigation, divorce/family law, venture capital/emerging companies, employment, estate planning, government investigations, intellectual property, M&A/private equity, probate/trust litigation, and real estate. We partner with our clients to solve their business and personal legal issues in a collaborative, creative and cost-effective way. For more information, visit Burns & Levinson at www.burnslev.com.


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