Nevakar Injectables Announces FDA Approval of Cyclophosphamide RTD Solution

^{— Ready-to-dilute, multi-dose vials reduce compounding time and waste —}

BRIDGEWATER, N.J., July 03, 2023 (GLOBE NEWSWIRE) — Nevakar Injectables Inc. (“Nevakar”), a biopharmaceutical company developing multiple sterile injectable products for use in the critical and ambulatory care settings, announced today that the U.S. Food and Drug Administration (“FDA”) has approved its new drug application (“NDA”) for Cyclophosphamide Injection, 200mg/mL vials for use in combination therapy for various types of cancers, including malignant lymphoma, multiple myeloma, and various types of leukemia.

“We are delighted to receive FDA approval and believe that cyclophosphamide ready-to-dilute multi dose injection serves a very important need in oncology therapy. The product is available in two configurations, 500 mg / 2.5 mL and 1 gram / 5 mL vials, to provide the health care providers with flexibility to use based on patient needs. Our simple and elegant formulation contains no unnecessary additives and benefits both providers and patients, as it minimizes waste, is easy to prepare, and reduces the risk of dosing error and product exposure,” stated Sriram Ramanathan, MS, MBA, Chief Executive Officer of Nevakar Injectables. “This is Nevakar’s third NDA approval in the past one year highlighting our rapid pace of innovation, scalability, experience and commitment to developing products that add value to the health care system.”

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

Investor Contacts:

Sriram Ramanathan
Chief Executive Officer
T: (908) 367-7403

Lisa M. Wilson
In-Site Communications, Inc.
T: (212) 452-2793
E: [email protected]