Nevakar Inc. Announces Formation Of Nevakar Injectables
BRIDGEWATER, N.J., May 25, 2021 /PRNewswire/ -- Nevakar Inc. ("Nevakar"), a privately held biopharmaceutical company, today announces the establishment of Nevakar Injectables Inc., a newly formed company with an established portfolio of products focused on critical patient care, acute pain management, long acting injectables and hospital infections. At inception Nevakar Injectables will operate as a wholly owned subsidiary of Nevakar Inc.
Nevakar Injectables launches with 13 active programs, three of which have been filed with FDA under the 505(b)(2) regulatory pathway. The Company's first NDA was approved by the FDA in October 2020. Five of Nevakar Injectables' critical care products were out-licensed to Endo Pharmaceuticals for commercialization in the US and Canada. NovaQuest and H.I.G. have provided financial backing to the company through royalty monetization agreements.
"The formation of Nevakar Injectables brings significant strategic, investment and operational focus in a company that will be dedicated to addressing patients and healthcare system's unmet needs in the hospital setting," said Navneet Puri, PhD, Founder and chairman of the board.
Nevakar Injectables' critical care product portfolio is comprised of ready-to-use products in prefilled syringes and intravenous infusion bags. These novel product presentations with longer shelf-life stability save precious time for critically ill patients and health care providers, ensure safety in handling of potent compounds, and reduce cost burden to hospitals.
Nevakar Injectables' acute pain management product is a novel combination undergoing Phase II clinical trials; if approved, it will safely and effectively manage acute pain in the peri-operative setting, while reducing the need for opioid analgesia. The company's anti-infective product is a novel, nano-liposomal formulation of an antibiotic widely used in hospital settings that is under pre-clinical investigation and has potential to reduce nephrotoxicity, enhance tissue targeting and reduce frequency of administration. Given the novelty, Nevakar Injectables' portfolio has strong intellectual property protection with 14 granted patents and 30 pending applications.
The Nevakar Injectables leadership team is comprised of Sriram Ramanathan, newly appointed CEO; Kumaresh Soppimath, CSO; Eric Lang, CMO; Jon Cammack, Chief Quality and Compliance Officer and G.P. Singh, strategic advisor to the company. The Board of Directors will include Navneet Puri, Ram Potti, George S. Zorich, Joseph M. Mahady and Dr. Robert J Spiegel.
"Nevakar Injectables is well equipped with a strong team, an impactful product pipeline and a comprehensive infrastructure that puts us on path to an exponential growth," said Sriram Ramanathan, CEO.
About Nevakar Inc.
Nevakar Inc. is a privately held, late-stage biopharmaceutical company with an extensive portfolio of products in the ophthalmic and injectable areas. Founded in 2015, and headquartered in Bridgewater, New Jersey, the Company is focused on developing and commercializing innovative products to address unmet medical needs, thereby improving patient care and quality of life. Nevakar has proven expertise and experience in the development of novel and proprietary sterile pharmaceutical products. Additional information is available at www.nevakar.com.
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SOURCE Nevakar Injectables Inc.