Burns & Levinson Represents iVeena Delivery Systems, Inc. in Strategic Licensing Agreement with Glaukos Corporation
PR Newswire
BOSTON , Aug. 29, 2022 /PRNewswire/ -- – 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 LLPAt 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 .
Contact: | | |
Amy Blumenthal | or | Kristen Weller |
Blumenthal & Associates | | Chief Marketing & Business Development Officer |
(617) 879-1511 | | (617) 345-3555 |
|
SOURCE Burns & Levinson