Connecticut-based Cara Therapeutics has landed $15 million in Series D financing with help from new investor Rho Ventures, which led the round. Cara is developing CR845, an intravenous post-operative pain treatment currently being studied in a Phase II clinical trial in women following laparoscopic hysterectomy. The financing will be used to support further clinical development of CR845.
"There has been little innovation in post-operative pain treatment where opioid use continues to be the standard of care even though it is associated with significant side effects which present an ongoing pharmacoeconomic burden for hospitals," said Rho Ventures partner Martin Vogelbaum in a statement. "Due to its peripheral activity and lack of CNS penetration, we believe Cara's CR845 has a chance to provide opioid-like pain relief while significantly reducing opioid use and its associated side effects." Cara has raised more than $43 million in funding since opening its doors..
- here's Cara's release