May 25, 2021
BRIDGEWATER, NJ — Nevakar has launched Vyluma, a new company that will create treatments for ophthalmic diseases such as myopia. At inception, Vyluma will operate as a wholly owned subsidiary of Nevakar Inc.
Vyluma will focus on refractive error, an important measure when treating conditions such as myopia, hyperopia, and presbyopia. The company is currently in the late stages of a Phase III clinical trial for a pharmaceutical agent — NVK002 — that was designed to slow the progression of myopia. NVK002 is Vyluma’s first product, and if it gains approval, 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 health care 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,” Puri added.
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 20 years of clinical and drug development experience in ophthalmology.