Navigation Links
Cara Therapeutics Secures $15 Million Series D Financing to Continue Clinical Development of CR845

SHELTON, Conn., July 21 /PRNewswire/ -- Cara Therapeutics, Inc. announced today that it had closed on a Series D financing of $15 million.  The round was led by new investor, Rho Ventures, with participation from previous investors Alta Biopharma, Ascent Biomedical Ventures, CT Innovations, Devon Park BioVentures, Healthcare Private Equity, Mitsubishi International Corporation and MVM Life Science Partners. In conjunction with the financing, Martin Vogelbaum, a partner at Rho Ventures, will join Cara's Board of Directors. The Series D financing will be used primarily for the continued clinical development of Cara's lead peripherally restricted kappa opioid agonist, CR845, for the treatment of post-operative pain.  Cara has raised more than $43M since inception.

"There has been little innovation in post-operative pain treatment where opioid use continues to be the standard of care even though it is associated with significant side effects which present an ongoing pharmacoeconomic burden for hospitals.  Due to its peripheral activity and lack of CNS penetration, we believe Cara's CR845 has a chance to provide opioid-like pain relief while significantly reducing opioid use and its associated side effects," said Martin Vogelbaum, partner at Rho Ventures.  "We have been impressed with the progress that the Cara team have made to date with CR845 and look forward to working with them as CR845 progresses through the clinic."

"We are very pleased to welcome Rho Ventures as our newest investor and we look forward to benefiting from Martin's considerable experience as we continue the clinical development of CR845," said Derek Chalmers, President and CEO of Cara Therapeutics.

About CR845

CR845 is a highly selective, peripherally restricted kappa opioid receptor agonist currently in Phase 2 clinical development for the treatment of postoperative pain.  Randomized, placebo-controlled Phase IIa studies have provided evidence of analgesic efficacy of CR845 administered as a single intravenous dose to women following laparoscopic hysterectomy.  In addition to decreases in reported pain levels, patients receiving CR845 required substantially lower amounts of postoperative opioids for 16 hours, and showed a significant reduction in the incidence of postoperative nausea. Cara expects to complete a Phase 1b repeat dose safety study of CR845 by Q4 this year.  Following this study, the company plans to conduct, a Phase 2b repeat dose efficacy study in laparoscopic hysterectomy patients.  With a total of over 100 human subjects exposed to CR845 to date, there have been no cases of dysphoric reactions or hallucinations as seen previously with centrally-acting kappa opioids.

About Cara Therapeutics

Cara Therapeutics is a privately held biotechnology company focused on developing novel, superior therapeutics to treat pain and inflammation associated with diverse medical conditions. In addition to CR845, Cara's current pipeline includes near-term clinical development candidates within multiple proprietary classes of peripherally restricted cannabinoids with preclinical analgesic and anti-inflammatory activity. Cara also plans to develop entirely novel classes of analgesics that emerge from its proprietary GPCR DimerScreen™ technology.

About Rho Ventures

Founded in 1981, Rho Ventures' multi-stage investing strategy focuses on high-growth companies in large markets that disrupt traditional value chains. Rho Ventures' investments span new media, healthcare, information technology and energy technology. The firm has offices in New York City, Palo Alto, Calif., and Montreal, and has more than $2 billion under management. For more information, visit

Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements relating to the therapeutic applications of CR845 and about Cara's strategy, technologies, pre-clinical and clinical programs, and ability to identify and develop drugs, as well as other statements that are not historical facts. Actual events or results may differ materially from Cara's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the timing, success and cost of Cara's research and clinical studies, and Cara's ability to obtain additional financing. These forward-looking statements represent Cara's judgment as of the date of this release. Cara disclaims any intent or obligation to update these forward-looking statements.

For more information, please see:

SOURCE Cara Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. Allos Therapeutics Initiates Study of PDX in Patients with Cutaneous T-Cell Lymphoma
3. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
4. TorreyPines Therapeutics Completes Patient Enrollment in Phase IIb Clinical Trial of Tezampanel for the Treatment of Acute Migraine Headache
5. CV Therapeutics Announces Eight Abstracts Accepted for Presentation at the European Society of Cardiology Congress 2007
6. Pharmacopeia Assists the World Health Organization in the Discovery of Novel Therapeutics for the Treatment of Malaria
7. Protalix BioTherapeutics Treats First Patient in Phase III Clinical Trial of prGCD
8. TorreyPines Therapeutics Initiates a Phase I Multiple Dose Clinical Trial of Tezampanel
9. TorreyPines Therapeutics Completes Phase I Multiple Dose Clinical Trial of NGX267, a Selective M1 Agonist for the Potential Treatment of Cognitive Impairment Associated with Schizophrenia
10. Cell Therapeutics, Inc. (CTI) Launches Phase III Study for Pixantrone in Relapsed Indolent Non-Hodgkins Lymphoma (NHL)
11. Cell Therapeutics, Inc. (CTI) Sponsors Panel Discussion on Women and Lung Cancer on Capitol Hill
Post Your Comments:
(Date:11/26/2015)... PUNE, India , November 26, ... --> --> ... Research Report" and "Investigation Report on ... 2019 and 2021 forecasts data and ... library. . ...
(Date:11/26/2015)... Nov. 26, 2015 Research and Markets ... the "2016 Future Horizons and Growth Strategies ... Supplier Shares, Country Segment Forecasts, Competitive Intelligence, Emerging ... --> --> This ... the Italian therapeutic drug monitoring market, including emerging ...
(Date:11/26/2015)... , November 26, 2015 ... the addition of the  "2016 Future ... European Cell Surface Marker Testing Market: ...  report to their offering.  --> ... addition of the  "2016 Future Horizons ...
Breaking Medicine Technology:
(Date:11/26/2015)... ... November 26, 2015 , ... Pixel Film ... trailer titles with ProTrailer: Vintage. This newly styled ProTrailer pack comes with 30 ... with any font, giving users limitless opportunities to stylize and create designs quickly ...
(Date:11/25/2015)... ... , ... The holiday season is jam-packed with family dinners, ... attendees is of the utmost importance. Whether you are cooking at home for ... a try this holiday season. , Turkey Croquettes ,     Ingredients: , ...
(Date:11/25/2015)... ... November 26, 2015 , ... Ministers, senior ... (EU), ANDI Pan African Centres of Excellence, and public R&D institutions, civil societies ... the opening of the 5th African Network for Drugs and Diagnostics Innovation, ANDI, ...
(Date:11/25/2015)... ... 2015 , ... Dental professionals who would like to become more proficient on ... Dr. Mark Iacobelli’s Advanced Implant Mentoring (AIM) CE course. Courses will be held on ... co-founders of Advanced Implant Mentoring (AIM), Dr. Iacobelli and Dr. D’Orazio are proud to ...
(Date:11/25/2015)... ... ... Smiles by Stevens is pleased to announce the addition of ... patients are aware of the benefits of Botox® in the treatment of moderate facial ... discomfort, soreness, and pain as a result of Jaw Tension, TMJ (temporo-mandibular joint) disorder, ...
Breaking Medicine News(10 mins):