Nevakar Inc., a Bridgewater, New Jersey-based specialty pharmaceutical company developing multiple products in the ophthalmic and injectable areas, entered into a $20m senior secured term loan with Oxford Finance LLC.
As part of the financing agreement, Nevakar may also access an additional $10m of funding provided that certain pre-defined milestone events are achieved.
Proceeds from the financings will be used to accelerate the company’s pipeline projects and for general corporate services.
Led by Navneet Puri, Ph.D., Founder, Chairman and Chief Executive Officer, Nevakar is a fully integrated specialty pharmaceutical company with an extensive portfolio of products in the ophthalmic and injectable areas.
Founded in 2015, the company utilizes the 505(b)(2) regulatory pathway, along with its proven expertise in the development of novel and proprietary sterile pharmaceutical products to identify, develop, and obtain regulatory approval for its products.