Bridgewater, NJ (May 25, 2021) – Vyluma Inc. announces its establishment as a wholly owned subsidiary of Nevakar Inc., focusing on pharmaceutical ophthalmic solutions. The robust pipeline of novel therapies is led by NVK002, a pharmaceutical atropine eyedrop to slow the progression of myopia in children. NVK002 is currently in late Phase III CHAMP clinical trial in the United States and Europe, and Phase II in Asia. If NVK002 stays on its current timeline it would potentially be the first approved treatment for myopia using atropine eyedrops to slow the progression of pediatric myopia, in the world.

“With the establishment of Vyluma, we are committing more research, education, and resources to the ophthalmic clinicians, and their patients, to ensure we are not only bringing future treatments to market but inviting an open dialogue on how to best partner together.” said Navneet Puri, PhD, Founder, Chairman and CEO. “NVK002 to treat myopia is where Vyluma will make a significant impact as, potentially, the first company to offer this treatment option, if approved by the FDA.”

Vyluma has a total of five pharmaceutical assets in its pipeline to address unmet treatment needs in the eyecare market. In addition to NVK002 for myopia, programs include presbyopia, NVK029, night vision disturbance, NVK031, acute ocular pain, NVK032, and potentially the first treatment for hyperopia, NVK033.

“Today marks a huge step in our efforts to partner with the ophthalmic community and do more for clinicians to treat their patients,” said Houman Hemmati, MD, PhD, Chief Medical Officer of Vyluma. “We have an incredible opportunity to improve patient care and quality of life with our thoughtfully developed pipeline of products to address disease states with the greatest unmet need for patients around the globe.”

Vyluma has partnered with Zhaoke Ophthalmology, in China and South East Asia, and Laboratories Théa, in Europe, for commercialization of NVK002.


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. Additional information is available at www.nevakar.com.

Media Contact for Vyluma:

Kelsey Frost
RHMM, Inc.
M: 850.512.7826
E: media@vyluma.com

Investor Contacts for Nevakar and Vyluma:

Marshall Woodworth
Chief Financial Officer
T: 908.625.3547
E: mwoodworth@nevakar.com
E: mwoodworth@vyluma.com