Nevakar Enters $50 Million Product Financing Agreement with NovaQuest Capital for Continued Development of Injectable Products
Endo International plc - Ordinary Shares (ENDP)
Last endo international plc - ordinary shares earnings: 2/26 06:00 am
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Source: GlobeNewswire
BRIDGEWATER, N.J. and RALEIGH, N.C., June 18, 2019 (GLOBE NEWSWIRE) -- Nevakar Inc. (“Nevakar” or the “Company”), a specialty pharmaceutical company developing multiple assets in the ophthalmic and injectable areas, announced today that it recently entered into a $50 million product financing agreement (the “Agreement”) with an affiliate of NovaQuest Capital Management, L.L.C. for the continued development of five differentiated, sterile injectable products. Pursuant to the Agreement and to the previously announced agreement with Endo Ventures Limited, a subsidiary of Endo International plc (NASDAQ: ENDP) dated August 8, 2018 (the “Endo Agreement”), Nevakar will develop and seek U.S. Food and Drug Administration (the “FDA”) approval for these products; Endo has the ability to launch and distribute the products upon approval through its Sterile Injectables Segment, doing business as Par Sterile Products. Nevakar anticipates filing an application for the first product with the FDA
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