Nevakar Injectables Sells Six Development-Stage, Ready-to-Use Injectable Product Candidates to Endo Ventures Limited
May 02 2022 - 7:30AM
Nevakar Injectables Inc. (“Nevakar”), a wholly owned subsidiary of
Nevakar, Inc., is a biopharmaceutical company developing multiple
sterile injectable products for use in the critical and ambulatory
care settings. Nevakar announced today that it has entered into an
asset sale agreement with Endo Ventures Limited, a subsidiary of
Endo International plc (“Endo”) (NASDAQ: ENDP), for the sale of six
of its differentiated, sterile injectable product candidates, which
are currently in various stages of early development. Under the
terms of the agreement, Nevakar transferred all rights and
responsibilities for these product candidates to Endo in exchange
for an upfront payment of $35 million.
“We are pleased to continue our longstanding relationship with
Endo, a respected pharmaceutical company with a significant and
growing presence in sterile and critical care products. This
agreement further validates the value proposition of our strong
pipeline and business model and provides additional resources for
us to continue to grow and expand our product pipeline in a focused
and selective manner,” stated Navneet Puri, Ph.D., Founder and
Chairman of Nevakar.
In 2018, under an exclusive licensing agreement, Nevakar
licensed five sterile injectable products to Endo that are in
various stages of development and commercialization.
About Nevakar Injectables, Inc.
Nevakar Injectables, Inc. is a wholly owned subsidiary of
Nevakar, Inc., a fully integrated privately held, late-stage
biopharmaceutical company with an extensive portfolio of products
in the ophthalmic and injectable areas. Nevakar Injectables is
developing a broad portfolio of injectable products for use in the
hospital and ambulatory care settings. The Company has active
programs in critical patient care, acute pain management, long
acting injectables, and hospital injectables. For additional
information please visit www.nevakarinjectables.com
About Endo
Endo (NASDAQ: ENDP) is a specialty pharmaceutical company
committed to helping everyone we serve live their best life through
the delivery of quality, life-enhancing therapies. Our decades of
proven success come from passionate team members around the globe
collaborating to bring the best treatments forward. Together, we
boldly transform insights into treatments benefiting those who need
them, when they need them. Learn more at www.endo.com or
connect with us on LinkedIn.
Investor Contacts:
Marshall WoodworthChief Financial OfficerT: (908) 699-4940 E:
mwoodworth@nevakar.com
Lisa M. Wilson In-Site Communications, Inc. T: (212) 452-2793 E:
lwilson@insitecony.com
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