- iVeena Delivery Systems Inc has entered into a strategic licensing agreement with Glaukos Corporation (NYSE:GKOS), granting an exclusive global license to develop and commercialize IVMED-80, a pharmacologic treatment for keratoconus.
- Keratoconus, a rare corneal disorder, is the leading cause of primary full-thickness corneal transplantation in the U.S.
- IVMED-80 is a proprietary disease modifying topical eye drop with orphan drug designation that upregulates lysyl oxidase (LOX) and induces pharmacologic corneal crosslinking to strengthen the cornea and treat keratoconus.
- Related: Glaukos Receives FDA 510(k) Clearance For iStent infinite.
- In a 6-month phase 1/2a study, IVMED-80 met its primary endpoint of a statistically significant reduction in baseline-adjusted Kmax of 1.0 D relative to placebo.
- 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 development and sales milestone payments and royalties on sales to iVeena.
- Price Action: GKOS shares are up 2.67% at $50.73 on the last check Wednesday.
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