Fundraising Fox

iVeena Delivery Systems

Salt Lake City, US · Founded 2014 · Delaware corporation

iVeena Delivery Systems is a clinical-stage ophthalmology company developing pharmacologic eye-drop therapies for refractive eye diseases, including IVMED-80 for keratoconus and IVMED-85 for pediatric myopia. Its lead keratoconus asset has been licensed to Glaukos Corporation.

BiotechHealthtechMedical Devices

Founders & leadership

iVeena Delivery Systems was founded in 2014 by Balamurali Ambati.

BABalamurali Ambati
Balamurali AmbatiFounder
GS
Gerald SimmonsExecutive
NWNed Weinshenker
Ned WeinshenkerExecutive

Board

DR
David RobinsonBoard director
JJ
James JensenBoard director
GJ
Greg JonesBoard director

Reported raises · per SEC filings

Form D private placements

$2.1M disclosed across 2 of 4 rounds · 2015–2019

▶$2.1MraisedJul 2020 · Pharmaceuticals
Rule 506(c)
Officers, directors & promoters on the filing
  • Jayakrishna AmbatiDirector
  • Barry HanoverDirector
  • Ned WeinshenkerExecutive Officer, Director
  • Heffernan RonDirector
  • Robert DempseyDirector
  • Gerald SimmonsExecutive Officer, Director
  • Balamurali AmbatiExecutive Officer, Director
  • James U JensenDirector
Offering amount
$2.5M
Amount sold
$2.1M
Minimum investment
$10K
Proceeds to insiders
$200K
First sale
May 2019
Incorporated
Corporation, Delaware
Federal exemptions
06c
Full filing on SEC EDGAR ↗
▶$2.5MofferedDec 2017 · Pharmaceuticals
Rule 506(b)
Officers, directors & promoters on the filing
  • Gerald SimmonsExecutive Officer, Director
  • James U JensenDirector
  • Jayakrishna AmbatiDirector
  • Balamurali AmbatiExecutive Officer, Director
  • Ned WeinshenkerExecutive Officer, Director
  • Barry HanoverDirector
Offering amount
$2.5M
Minimum investment
$10K
Proceeds to insiders
$100K
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$1MofferedDec 2016 · Pharmaceuticals
Rule 506(b)
Officers, directors & promoters on the filing
  • David RobinsonDirector
  • Gerald SimmonsExecutive Officer, Director
  • Balamurali AmbatiExecutive Officer, Director
  • Ned WeinshenkerDirector
  • James JensenDirector
  • Jayakrishna AmbatiDirector
  • Barry HanoverDirector
Offering amount
$1M
Proceeds to insiders
$214K
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$10KraisedMay 2015 · 1 investors · Pharmaceuticals
Rule 506(b)
Officers, directors & promoters on the filing
  • Gerald SimmonsExecutive Officer
  • David RobinsonDirector
  • Ned WeinshenkerExecutive Officer, Director
  • James JensenDirector
  • Greg JonesDirector
  • Balamurali AmbatiExecutive Officer, Director
Offering amount
$1.5M
Amount sold
$10K
Minimum investment
$10K
Proceeds to insiders
$100K
First sale
Apr 2015
Incorporated
Corporation, Delaware, 2014
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Competitors · 2

by search overlap
Doximity8 shared keywordsDoximity is the largest verified network of healthcare professionals in the U.S., connecting physicians, PAs, NPs, pharmacists, and medical students across specialties and care settings. The platform provides mobile-first tools for clinical communication, collaboration, and workflow optimization.
Zocdoc8 shared keywordsZocdoc runs an online marketplace where US patients find in-network doctors and dentists and book in-person or telehealth appointments.

Companies competing with iVeena Delivery Systems for the same Google search keywords, organic and paid, via search-intersection analysis.

Non-dilutive funding · 6 SBIR/STTR awards

Federal grants — no equity taken
AgencyPhaseYearAmount
National Institutes of Health (NIH)National Institutes of HealthPhase I2023$345K
National Institutes of Health (NIH)National Institutes of HealthPhase II2020$1.7M
National Institutes of Health (NIH)National Institutes of HealthPhase II2019$2M
National Science FoundationPhase I2017$225K
National Institutes of Health (NIH)National Institutes of HealthPhase I2017$224.8K
National Institutes of Health (NIH)National Institutes of HealthPhase I2015$216.7K

Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.

In the news

iVeena Delivery Systems Announces First Patient Dosed in Phase 1 Study of IVMED-85 in Healthy Adult Volunteersbusinesswire.com · Feb 2026iVeena Awarded $2 Million National Eye Institute Grant to Advance Novel Therapy for Pediatric Myopia | News | bakersfield.combakersfield.com · Sep 2025iVeena Submits New Drug Application to FDA for Myopia Drug, IVMED-85 - Review of Myopia Managementreviewofmm.com · Jun 2025iVeena Receives $3 Million in Funding for Development of Myopia Drug IVMED-85 - Review of Myopia Managementreviewofmm.com · Feb 2025iVeena Secures $3 Million in Series B-2 Financing to Accelerate Development of IVMED-85 for Myopia - BioSpacebiospace.com · Feb 2025iVeena Closes Series B Financing to Advance Multiple Programs in Clinical Developmentbusinesswire.com · Aug 2020

Frequently asked questions

What does iVeena Delivery Systems do?
iVeena Delivery Systems is a clinical-stage ophthalmology company developing pharmacologic eye-drop therapies for refractive eye diseases, including IVMED-80 for keratoconus and IVMED-85 for pediatric myopia. Its lead keratoconus asset has been licensed to Glaukos Corporation.
Who founded iVeena Delivery Systems?
iVeena Delivery Systems was founded by Balamurali Ambati in 2014.
How much funding has iVeena Delivery Systems raised?
iVeena Delivery Systems has disclosed $2.1M raised across 2 of its 4 known rounds.
Where is iVeena Delivery Systems headquartered?
iVeena Delivery Systems is headquartered in Salt Lake City, US.