Cara Therapeutics Appoints Thomas Reilly as Chief Financial Officer
October 01 2020 - 7:00AM
Cara Therapeutics, Inc. (Nasdaq: CARA), a biopharmaceutical
company focused on developing and commercializing new chemical
entities designed to alleviate pruritus by selectively targeting
peripheral kappa opioid receptors, today announced the appointment
of Thomas Reilly as Chief Financial Officer, effective October 1,
2020. Mr. Reilly will be responsible for overseeing the Company’s
financial strategy and activities related to accounting, capital
markets, and business operations. He joins Cara from Allergan, now
part of AbbVie, where he served as Finance Head for the U.S.
General Medicine Commercial Business.
“We are very pleased to welcome Tom to the Cara
executive management team,” said Derek Chalmers, Ph.D., D.Sc.,
President and Chief Executive Officer of Cara. “He brings extensive
commercial financial and business expertise in the biopharma sector
which will be instrumental as we continue to advance KORSUVA
Injection towards commercialization with the expected filing of our
first NDA later this year.”
Mr. Reilly has over 20 years of experience in
biopharmaceutical financial operations, including significant
management experience in accounting and commercial finance. As
Finance Head for the U.S. General Medicine Commercial Business at
Allergan, he was instrumental in growing sales, managing capital
allocations, and serving as a member of the commercial leadership
team. Prior to Allergan, he held numerous financial management
positions of increasing responsibility within Novartis, most
notably Head of Finance of Global Oncology Development. Previously,
he served as the Finance Manager, US Consumer Healthcare Division
of Pharmacia Corporation, now Pfizer Inc. Mr. Reilly holds an
M.B.A. in accounting from Seton Hall University and a B.S. in
finance from Manhattan College.
“Cara Therapeutics is at an exciting point in
the Company’s history as it prepares to become a commercial-stage
organization,” said Mr. Reilly. “The strength of the Company’s
clinical pipeline and established commercial agreements for KORSUVA
Injection underscore significant potential for future growth and
success. I look forward to working with the Cara team during this
transformative next phase of the Company’s development.”
About Cara Therapeutics
Cara Therapeutics is a clinical-stage
biopharmaceutical company focused on developing and commercializing
new chemical entities designed to alleviate pruritus by selectively
targeting peripheral kappa opioid receptors, or KORs. Cara is
developing a novel and proprietary class of product candidates, led
by KORSUVA™ (CR845/difelikefalin), a first-in-class KOR agonist
that targets the body’s peripheral nervous system, as well as
certain immune cells. In two Phase 3 trials, KORSUVA Injection has
demonstrated statistically significant reductions in itch intensity
and concomitant improvement in quality of life measures in
hemodialysis patients with moderate-to-severe chronic kidney
disease-associated pruritus (CKD-aP). Cara has successfully
completed its Phase 2 trial of Oral KORSUVA for the treatment of
pruritus in patients with CKD and is currently conducting Phase 2
trials of Oral KORSUVA in atopic dermatitis and primary biliary
cholangitis patients with moderate-to-severe pruritus.
The FDA has conditionally accepted KORSUVA™ as
the trade name for difelikefalin injection. CR845/difelikefalin is
an investigational drug product and its safety and efficacy have
not been fully evaluated by any regulatory authority.
Forward-looking Statements
Statements contained in this press release
regarding matters that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Examples of these
forward-looking statements include statements concerning the
expected timing for the submission of the Company’s NDA for KORSUVA
Injection for CKD-aP, the Company’s ability to commercialize
KORSUVA Injection and the Company’s potential future growth and
success. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Risks are
described more fully in Cara Therapeutics’ filings with the
Securities and Exchange Commission, including the “Risk Factors”
section of the Company’s most recent Quarterly Report on Form 10-Q
and its other documents subsequently filed with or furnished to the
Securities and Exchange Commission. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. Cara Therapeutics undertakes no obligation to
update such statements to reflect events that occur or
circumstances that exist after the date on which they were
made.
INVESTOR CONTACT:Janhavi MohiteStern Investor
Relations, Inc.212-362-1200janhavi.mohite@SternIR.com
MEDIA CONTACT:Annie Starr6
Degrees973-415-8838astarr@6degreespr.com
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