Cara Therapeutics Announces Appointment of Robert Medve, M.D., as Chief
Experienced Pain Drug Developer and Expert in Human Abuse Liability to Lead
Clinical Development of CR845 for the Treatment of Acute and Chronic Pain
SHELTON, Conn., June 24, 2014 (GLOBE NEWSWIRE) -- Cara Therapeutics, Inc.
(Nasdaq:CARA), a biopharmaceutical company focused on developing and
commercializing new chemical entities designed to alleviate pain by
selectively targeting kappa opioid receptors, today announced that Dr. Robert
Medve has been named Chief Medical Officer, effective immediately. Dr. Medve
will oversee the clinical development of Cara's lead compound, CR845, as well
as its pipeline of other novel pain therapies.
"Dr. Medve has a proven track record of leadership in pain drug development,
including advancing multiple therapeutics through all phases of development,
from preclinical data and IND filing to regulatory approval and commercial
launch," said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive
Officer of Cara Therapeutics. "We are pleased to add Dr. Medve to the Cara
team as we advance I.V. CR845 into registration trials for post-operative
pain, and continue the clinical development of our oral tablet formulation of
Dr. Medve brings to Cara more than 20 years of experience in drug development
and pain management, most recently serving as Senior Vice President and Chief
Medical Officer at Nektar Therapeutics, where he led clinical development
strategy and execution across a broad pipeline in multiple therapeutic areas,
including pain. Previously, Dr. Medve was Chief Medical and Regulatory Officer
at NeurAxon, Inc., where he oversaw regulatory and clinical strategy for its
migraine and pain programs. He has also held senior leadership positions at
Metaphore Pharmaceuticals, Johnson & Johnson and Knoll Pharmaceutical Company,
as well as at Lifetree Clinical Research, a CRO specializing in human abuse
Dr. Medve, an anesthesiologist and pain management specialist, completed his
residency in anesthesia at Thomas Jefferson University Hospital in
Philadelphia. Following completion of a Pain Management Fellowship at the
State University of New York at Buffalo, he established and directed pain
management and hospice services at regional hospitals, including The
Children's Hospital of Buffalo. Dr. Medve completed an accelerated (6-year)
pre-med/med program, graduating with his M.D. from Jefferson Medical College
in Philadelphia and a B.S. in Biology from Pennsylvania State University.
"I am very pleased to join Cara at this critical time in pain management. The
need for new approaches to treating patients in pain, without mu-opioid side
effects, including the potential for abuse, has never been greater," said Dr.
Medve. "The high degree of pharmacological selectivity for peripheral kappa
opioid receptors and the lack of mu receptor activity underlie the significant
potential for CR845 to change our approach to managing pain, and reduce the
need for mu-opioids and the risks they present."
CR845 is a peripherally acting kappa opioid receptor agonist currently in
development for the treatment of acute and chronic pain. In multiple
randomized, double-blind, placebo-controlled Phase 2 trials in patients
undergoing laparoscopic hysterectomy or bunionectomy procedures, I.V. CR845
treatment resulted in statistically significant reductions in pain intensity
and opioid-related side effects. In over 400 subjects dosed to date, I.V.
CR845 was found to be safe and well tolerated, without incurring the dysphoric
and psychotomimetic side effects that have been reported with centrally acting
(CNS-active) kappa opioid receptor agonists.
About Cara Therapeutics
Cara Therapeutics is a clinical-stage biopharmaceutical company focused on
developing and commercializing new chemical entities designed to alleviate
pain and pruritus by selectively targeting kappa opioid receptors. Cara is
developing a novel and proprietary class of product candidates that target the
body's peripheral nervous system and have demonstrated efficacy in patients
with moderate-to-severe pain without inducing many of the undesirable side
effects typically associated with currently available pain therapeutics.
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 future
development of the Company's product candidates. 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
Annual Report on Form 10-K for the year ended December 31, 2013 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.
CONTACT: CORPORATE CONTACT:
President & CEO
Cara Therapeutics, Inc.
Stern Investor Relations
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