Cara Therapeutics Enters Agreement to Merge with Tvardi Therapeutics

Cara Therapeutics, Inc. has recently announced a significant development in its strategic expansion, entering into an “Agreement and Plan of Merger and Reorganization” with Tvardi Therapeutics, Inc. The agreement, signed on December 17, 2024, outlines a merger between Cara and Tvardi, a clinical-stage biopharmaceutical company specializing in novel oral small molecule therapies focused on targeting STAT3 to address diseases driven by fibrosis.

The merger is aimed at being a tax-free reorganization for U.S. federal income tax purposes. As part of the deal, each share of Tvardi common stock will be automatically converted into Cara common stock at the specified Exchange Ratio. Additionally, outstanding Convertible Notes of Tvardi are set to be converted into shares of Cara Common Stock.

Post-merger, Imran Alibhai, Ph.D., the CEO of Tvardi, is expected to lead as the President and CEO of the combined company. Other key appointments include Dan Conn, J.D., M.B.A as CFO, John Kauh, M.D. as CMO, and Jeffrey Larson, Ph.D., DABT as Senior VP of Research & Development. The board of directors of the combined company will consist of seven members, including six from Tvardi and one from Cara.

The merger also involves the assumption of the Tvardi 2018 Stock Incentive

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cara Therapeutics’s 8K filing here.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company’s lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.