Cara Therapeutics, Inc. Announces Global Licensing Deal Of Novel Pain Drug Candidate With ALZA Corporation

TARRYTOWN, N.Y., Jan. 5 /PRNewswire/ -- Cara Therapeutics, Inc. announced today that it had entered into a worldwide licensing agreement with ALZA Corporation, a Johnson & Johnson company, for Cara’s novel peripherally-acting pain drug candidate, CR665. Cara has successfully completed a Phase 1a clinical trial with an intravenous formulation of CR665 and the collaboration will focus on further clinical development of this formulation, as well as the development of additional formulations of this compound incorporating ALZA technologies.

Under the terms of the agreement, Cara received an upfront payment and will be eligible to receive pre-determined clinical and regulatory milestone payments. Cara is also eligible to receive royalties on sales of all marketed products incorporating the compound, as well as an option to co-promote intravenous products in the U.S.

“We believe that ALZA’s and Johnson & Johnson’s proven expertise in drug development and marketing in the analgesia and anti-inflammatory sector will provide an optimum path for the worldwide clinical development and commercialization of CR665,” stated Dr. Derek Chalmers, Cara’s President and CEO. “The combination of ALZA’s leading edge drug delivery technologies and Cara’s best-in-class peripheral analgesic holds great promise as a breakthrough for treating patients with chronic pain and inflammatory conditions.”

About CR665

CR665 is the lead clinical development candidate from a series of highly selective peripheral kappa opioid receptor agonists. In preclinical studies, CR665 was highly selective for the peripheral kappa opioid receptor. Preclinical animal studies suggest that CR665 is a potent analgesic compound. In addition, unlike currently marketed opioids, CR665 does not produce inhibition of intestinal transit (ileus), induce respiratory depression, or elicit signs of euphoria or addiction in animal models. Preclinical studies also indicate that CR665 possesses anti-inflammatory activities.

A completed Phase 1a study of intravenous CR665 in healthy men and women indicated that the drug candidate was safe, well tolerated and exhibited predictable pharmacokinetic characteristics. In addition, this study demonstrated plasma levels of CR665 associated with analgesic effects in preclinical studies, as well as biomarker evidence of peripheral kappa opioid receptor activation in both men and women.

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. Cara’s current pipeline includes near-term clinical drug candidates within multiple classes of peripherally- acting analgesics.

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 CR665 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 contact: Derek Chalmers, President & CEO of Cara Therapeutics, +1-914-347-4040, Ext. 201.

Cara Therapeutics, Inc.

CONTACT: Derek Chalmers, President & CEO of Cara Therapeutics,+1-914-347-4040, ext. 201

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