Nevakar Announces Formation Of Ophthalmic Company, Vyluma

BRIDGEWATER, N.J., May 25, 2021 /PRNewswire/ -- Nevakar Inc. ("Nevakar"), a privately held biopharmaceutical company, today announces the establishment of Vyluma Inc., a newly formed company with a focus on the development and commercialization of therapies to treat ophthalmic diseases. At inception Vyluma will operate as a wholly owned subsidiary of Nevakar Inc.

Vyluma will focus on first-in-class and best-in-class ophthalmic pharmaceutical therapies, with an emphasis on refractive errors. Currently, there are no pharmaceutical treatment options approved for refractive errors such as childhood myopia, presbyopia, night vision disturbance, and hyperopia.  NVK002 is Vyluma's lead product candidate in late Phase III clinical development with readouts anticipated in the fourth quarter of 2022.  If approved, it would be the first pharmaceutical therapy to slow the progression of myopia in children.

"Founded on the principle of improving patients' quality of life and healthcare outcomes, Nevakar has gained significant traction in advancing its product pipeline which includes hospital injectable and ophthalmic products, "said Navneet Puri, PhD, founder, Chairman and CEO of Vyluma. "After validation of our ophthalmology franchise by establishing key partnerships with Zhaoke in China and Théa in Europe for NVK002, and early strong clinical data on other ophthalmic programs, it was clear we needed to separate the ophthalmic portfolio from our injectable business to bring increased focus to this area of fundamental human need. With the establishment of Vyluma, our ophthalmic portfolio will have a dedicated team of professionals focused on assuring Vyluma meets its commitment to patients, prescribers, shareholders and other key constituents."

In addition to Puri, Vyluma's leadership is comprised of Marshall Woodworth, MBA Chief Financial Officer; Raul A. Trillo, Jr., MD, MBA, Chief Commercial Officer and Houman Hemmati MD, PhD, Chief Medical Officer.

"We have an incredible opportunity to improve patient care and quality of life developing a pipeline of products focused on the biggest unmet need, myopia, as our leading pipeline candidate, followed by additional indications outside of refractive errors in the cornea and anterior segments," said Houman Hemmati, MD, PhD, Chief Medical Officer of Vyluma.

An ophthalmology-focused Board of Directors will be appointed, including Tuyen Ong, MD, MBA, CEO of Ring Therapeutics and former senior VP at Biogen with more than twenty years of clinical and drug development experience in ophthalmology.

Zhaoke Ophthalmology, based in China, and Laboratories Théa, headquartered in Europe are key commercial partners for Vyluma. Vyluma's pipeline includes programs for treatment of pediatric myopia, presbyopia, night vision disturbance, acute ocular pain, and hyperopia.

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.

SOURCE Nevakar Inc.