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news.Cara Therapeutics has announced that it had closed on $12.3 million of additional funding to its original $24 million series C financing which was completed in 2007.
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The round was led by new investor, Devon Park Bioventures, and included participation by Connecticut Innovations. Previous investors participating in the round included; Ascent Biomedical Ventures, Mitsubishi International and Wistar Morris.
In conjunction with the financing, Christopher Moller, general partner at Devon Park Bioventures, will join Cara’s board of directors.
The additional funds will be used primarily for further clinical development of both intravenous and oral formulations of Cara’s second generation peripherally-selective kappa opioid agonist, CR845.