Cara Therapeutics, Inc.
, a Shelton, CT-based biotechnology company focused on developing novel therapeutics to treat pain and inflammation associated with diverse medical conditions, closed on a $15m Series D financing
The round was led by new investor, Rho Ventures, with participation from existing investors Alta Biopharma, Ascent Biomedical Ventures, CT Innovations, Devon Park BioVentures, Healthcare Private Equity, Mitsubishi International Corporation and MVM Life Science Partners.
It brings the total amount the company has raised to date to over $43m.
In conjunction with the financing, Martin Vogelbaum, a partner at Rho Ventures, will join Cara’s Board of Directors.
The 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.
In addition to CR845, the company’s current pipeline includes clinical candidates within multiple proprietary classes of peripherally restricted cannabinoids with preclinical analgesic and anti-inflammatory activity.