{"id":16686,"date":"2014-01-31T13:24:09","date_gmt":"2014-01-31T18:24:09","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=16686"},"modified":"2014-07-18T21:39:07","modified_gmt":"2014-07-19T01:39:07","slug":"pain-therapy-developer-issues-ipo-raises-55-million","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=16686","title":{"rendered":"Pain Therapy Developer Issues IPO, Raises $55 Million"},"content":{"rendered":"<figure id=\"attachment_1813\" aria-describedby=\"caption-attachment-1813\" style=\"width: 200px\" class=\"wp-caption alignright\"><a href=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2010\/11\/BackPain_FDA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1813\" src=\"http:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2010\/11\/BackPain_FDA.jpg\" alt=\"Back pain (FDA)\" width=\"200\" height=\"300\" srcset=\"https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2010\/11\/BackPain_FDA.jpg 200w, https:\/\/technewslit.com\/sciencebusiness\/wp-content\/uploads\/2010\/11\/BackPain_FDA-100x150.jpg 100w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/a><figcaption id=\"caption-attachment-1813\" class=\"wp-caption-text\">(U.S. Food and Drug Administration)<\/figcaption><\/figure>\n<p>31 January 2014. <a href=\"http:\/\/ir.caratherapeutics.com\/releasedetail.cfm?releaseid=822386\">Cara Therapeutics Inc.<\/a>, a biotechnology company in Shelton, Connecticut, issued its initial public offering (IPO), raising some $55 million. The company issued 5 million shares of common stock, priced in the range of $11 to $13 a share. At noon ET today, the stock is priced at <a href=\"http:\/\/ir.caratherapeutics.com\/stockquote.cfm\">$13.38 a share<\/a> on the NASDAQ exchange (symbol: CARA).<\/p>\n<p>Cara Therapeutics develops medications to treat moderate to severe pain, which interact with <a href=\"http:\/\/www.ncbi.nlm.nih.gov\/pubmed\/20026960\">kappa opioid receptors<\/a> located on sensory nerves that transmit pain signals. <a href=\"http:\/\/www.drugs.com\/morphine.html\">Morphine<\/a> is the best known drug addressing mu opioid receptors that also reside in sensory nerves, but it comes with serious side effects, including the risk of abuse and addiction.<\/p>\n<p>The company&#8217;s lead product is code-named <a href=\"http:\/\/www.caratherapeutics.com\/cr845.shtml\">CR845<\/a> that stimulates kappa opioid receptors and exhibits both pain-killing and anti-inflammatory properties, without the addictive effects of morphine. The company completed tests of an intravenous form of the drug in intermediate-stage clinical trials to treat pain after\u00a0<a href=\"http:\/\/clinicaltrials.gov\/show\/NCT01361568\">hysterectomy<\/a> and <a href=\"http:\/\/clinicaltrials.gov\/show\/NCT01789476\">bunion<\/a> surgery, with late-stage trials planned for later in 2014. An oral form of the drug is in early-stage trials.<\/p>\n<p>Cara Therapeutics is also developing pain medications addressing cannabinoid or <a href=\"http:\/\/www.caratherapeutics.com\/cb-agonists.shtml\">CB receptors<\/a>, specifically CB2 receptors located in peripheral tissues; CB1 receptors are located in the brain. The company&#8217;s lead product, code-named CR701, is in preclinical research and targets CB2 receptors. CR701 is expected to be developed as a treatment for <a href=\"http:\/\/www.webmd.com\/pain-management\/guide\/neuropathic-pain\">neuropathic pain<\/a>, caused by damaged nerve fibers.<\/p>\n<p>The company raised $43 million in venture capital from four financing rounds, the most recent in 2010, where it gained <a href=\"http:\/\/ir.caratherapeutics.com\/releasedetail.cfm?ReleaseID=807847\">$15 million<\/a> for continued clinical development of CR845.<\/p>\n<p>Read more:<\/p>\n<ul>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=14144\">St. Jude Medical Invests in Pain Therapy Device Developer<\/a><\/li>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=13614\">FDA Designates Orphan Drug for Rare Pain Condition<\/a><\/li>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=12563\">Potential Cause of Statin-Produced Muscle Pain Revealed<\/a><\/li>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=11858\">Trial Shows Synthetic Cannabinoid Effective on Nerve Pain<\/a><\/li>\n<li><a href=\"http:\/\/sciencebusiness.technewslit.com\/?p=11004\">Researchers Designing New Drug for Chronic Pain<\/a><\/li>\n<\/ul>\n<p style=\"text-align: left;\">Hat tip: <a href=\"http:\/\/finance.fortune.cnn.com\/2014\/01\/31\/deals-of-the-day-kkr-getting-into-soccer\/\">Fortune\/Term Sheet<\/a><\/p>\n<p style=\"text-align: center;\">*\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0 *<\/p>\n","protected":false},"excerpt":{"rendered":"<p>31 January 2014. Cara Therapeutics Inc., a biotechnology company in Shelton, Connecticut, issued its initial public offering (IPO), raising some $55 million. The company issued 5 million shares of common stock, priced in the range of $11 to $13 a share. At noon ET today, the stock is priced at $13.38 a share on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[31,21,28,23,24,122,64,27,19],"class_list":["post-16686","post","type-post","status-publish","format-standard","hentry","category-finance","tag-biomedical","tag-biotech","tag-clinical-trials","tag-equity","tag-investment","tag-ipo","tag-life-sciences","tag-pharmaceuticals","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/16686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16686"}],"version-history":[{"count":7,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/16686\/revisions"}],"predecessor-version":[{"id":18229,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=\/wp\/v2\/posts\/16686\/revisions\/18229"}],"wp:attachment":[{"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewslit.com\/sciencebusiness\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}