Cara Therapeutics and Enteris BioPharma Enter Commercial License Agreement

Cara Therapeutics (NASDAQ:CARA) has announced it has entered into a license agreement with Enteris BioPharma for oral formulation rights to Enteris’ Peptelligence Technology.

As quoted in the press release:

“We are pleased to take another important step in advancing Oral KORSUVA™ as a potential novel treatment for chronic pruritus by entering into this commercial formulation license,” said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics. “With three ongoing Phase 2 trials across a range of patient populations for whom pruritus remains a significant unmet need, we are now well positioned to continue Oral KORSUVA’s development and potential future commercialization.”

Summary of the License Agreement

Under the terms of the License Agreement, Enteris granted Cara a non-exclusive license to its Peptelligence Technology to develop and commercialize Oral KORSUVA in any indication worldwide, excluding South Korea and Japan. Enteris will receive an upfront payment of $8 million, including $4 million in cash and $4 million in Cara common stock. Enteris is also eligible to receive development, regulatory and tiered commercial milestone payments, as well as low, single-digit royalties based on net sales in the licensed territory. Cara retains the right to buy out the royalty obligation for a period of two years under prespecified conditions.

Click here to read the full press release.