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SWK Holdings' Subsidiary, Enteris BioPharma, Receives $10 Million Milestone Payment from Cara Therapeutics
Third milestone payment related to the development of Oral KORSUVA™ DALLAS, June 11, 2021 /PRNewswire/ -- SWK Holdings Corporation (Nasdaq: SWKH), a life
About this update from Tvardi Therapeutics, Inc.
[{"type":"text","content":"Third milestone payment related to the development of Oral KORSUVA™\n\n\nDALLAS, June 11, 2021 /PRNewswire/ -- SWK Holdings Corporation (Nasdaq: SWKH), a life sciences focused specialty finance company catering to small- and mid-sized commercial-stage companies, today announced that its wholly-owned subsidiary, Enteris BioPharma, received a $10 million milestone payment from Cara Therapeutics (Nasdaq: CARA) related to the license agreement for the Peptelligence® oral formulation technology utilized in Oral KORSUVA™, the oral formulation of Cara's first-in-class KOR agonist, CR845/difelikefalin. Enteris is entitled to retain $3.9 million of this payment per the contractual splits agreed to in the Enteris acquisition agreement. \nThis milestone payment was triggered by confirmation from Cara of the completion of an End-of-Phase 2 Meeting with the U.S. Food and Drug Administration (FDA) for Oral KORSUVA in patients with non-dialysis dependent (NDD) chronic kidney disease (CKD-aP). Cara has indicated that it currently plans to initiate a Phase 3 program by year-end 2021. Enteris received two previous milestone payments totaling $5 million during the fourth quarter of 2020 of which Enteris retained $3 million. Enteris is eligible to receive additional potential milestone payments over the next several quarters, subject to the achievement of certain development milestones for Oral KORSUVA.\n\"This is the third and largest milestone payment generated by the Cara Therapeutics licensing agreement for Oral KORSUVA, validating Enteris' ability to produce value for its pharmaceutical partners and SWK's shareholders,\" stated Winston Black, Chairman and CEO of SWK. \"The milestones generated from the Cara licensing agreement also highlight the ongoing potential to monetize Enteris' Peptelligence and ProPerma™ technologies, given the numerous market and patient advantages of developing oral tablet formulations of peptides and small molecules. Enteris' oral delivery technologies, combined with its manufacturing capacity and CDMO capabilities, make it a potentially attractive partner to a range of pharmaceutical and biotechnology companies.\"\nOral KORSUVA was engineered using Enteris' Peptelligence technology, which is designed to enable the oral delivery of peptides and BCS class II, III and IV small molecules. Oral KORSUVA is currently the s...