Cara Therapeutics
Cara Therapeutics was a clinical-stage biopharmaceutical company developing Difelikefalin, a kappa opioid receptor agonist for chronic pruritus in dialysis and atopic dermatitis patients. In April 2025 it merged with Tvardi Therapeutics to form a Nasdaq-listed entity (TVRD) focused on STAT3 inhibitors for fibrosis.
- Company typePrivate
- Founded2004
- HeadquartersShelton, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Cara Therapeutics does
Cara Therapeutics was a Stamford, Connecticut-based clinical-stage biopharmaceutical company founded in 2004 that developed and commercialized therapeutics for pruritus (chronic itching) and inflammation. Its core asset was Difelikefalin (Korsuva), a first-in-class peripheral kappa opioid receptor agonist approved for the treatment of moderate-to-severe chronic kidney disease-associated pruritus (CKD-aP) in adults on hemodialysis and in development for atopic dermatitis, a large dermatology indication. The company generated revenue primarily through partnered sales and royalty streams rather than direct commercialization, with Vifor/Fresenius as the principal commercial partner for the dialysis indication in the United States.
The business model was a traditional specialty-pharma royalty-and-milestone model: small molecule drug development financed by repeated equity and non-dilutive royalty rounds, partnered distribution for approved indications, and reinvestment of cash flow into label-expansion clinical trials. The customer base was narrow and clinical — dialysis providers and dermatology patients — with revenue concentrated through a single commercial channel. Cara accumulated over $500 million in cumulative funding since inception across more than ten rounds between 2005 and 2023, including a $40 million non-dilutive royalty financing from HealthCare Royalty Partners in November 2023.
On December 18, 2024, Cara announced an all-stock merger with Houston-based Tvardi Therapeutics, a clinical-stage developer of STAT3 inhibitors for fibrosis-driven diseases including idiopathic pulmonary fibrosis (IPF) and hepatocellular carcinoma (HCC). The merger closed on April 15, 2025, with the combined company operating as Tvardi Therapeutics Inc. (Nasdaq: TVRD) under CEO Imran Alibhai. The combined entity has pivoted strategic focus to STAT3 inhibition, integrating Cara's Difelikefalin franchise into a broader pipeline spanning fibrosis, oncology, and pruritus, with concurrent cash financing intended to fund operations into mid-2026. The Cara Therapeutics corporate web domain is now parked, and the operating entity no longer trades under the CARA symbol.
Cara Therapeutics firmographics
Firmographics- Name
- Cara Therapeutics
- Legal name
- Cara Therapeutics Inc.
- Website
- https://caratherapeutics.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Cara Therapeutics was a clinical-stage biopharmaceutical company developing Difelikefalin, a kappa opioid receptor agonist for chronic pruritus in dialysis and atopic dermatitis patients. In April 2025 it merged with Tvardi Therapeutics to form a Nasdaq-listed entity (TVRD) focused on STAT3 inhibitors for fibrosis.
- Ownership category
- akta.pro rank
Cara Therapeutics industry classification
Industry- Product category
- Specialty Biopharmaceuticals
- NAICS
- Pharmaceutical and Medicine Manufacturing (3254)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Acne & Rosacea Specialty Care (HLAKACAH)
- akta.pro secondary industries
- Treatment Skincare (Serums, Actives, Acne & Anti-aging) (CRABAAAB), Dermocosmetics & Medical-Grade Skincare (CRABAAAF)
Keywords
Where Cara Therapeutics is headquartered
LocationHeadquarters
- HQ city
- Shelton
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Cara Therapeutics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others
Cara Therapeutics product offering
Product offeringCore offering
Cara Therapeutics developed Difelikefalin, a proprietary peripherally acting kappa opioid receptor agonist, for the treatment of pruritus (chronic itching) associated with atopic dermatitis and chronic kidney disease-associated pruritus. The company's pipeline targeted high-unmet-need indications in pain and inflammation, and following its April 2025 merger with Tvardi Therapeutics, the combined entity expanded into STAT3 inhibitors for fibrosis-driven diseases.
Product overview
Cara Therapeutics was a Stamford-based biopharmaceutical company that developed Difelikefalin, a therapeutic for pruritus (chronic itching). Following the April 2025 merger with Houston-based Tvardi Therapeutics, the combined entity operates under Tvardi Therapeutics Inc. (NASDAQ: TVRD), pivoting to STAT3 inhibitors for fibrosis-driven diseases including idiopathic pulmonary fibrosis (IPF) and hepatocellular carcinoma (HCC). Cara's original pruritus therapeutic franchise, anchored by Difelikefalin, has been integrated into the merged company's broader oncology and fibrosis pipeline.
Differentiator
Problem solved
Functional benefit
Brands
- Difelikefalin: A therapeutic product developed by Cara Therapeutics, referenced in the Atopic Dermatitis Competitive Landscape Report 2026.
Products and services
- Difelikefalin (Korsuva) Difelikefalin is a first-in-class peripherally acting kappa opioid receptor agonist developed by Cara Therapeutics for the treatment of pruritus (chronic itching) associated with atopic dermatitis and chronic kidney disease. It targets high-unmet-need patient populations and was Cara's core clinical-stage therapeutic asset before being integrated into the post-merger Tvardi pipeline.
Companies that use Cara Therapeutics
Customer profileSegments1 record
Ideal customer profiles1 record
Cara Therapeutics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Cara Therapeutics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Tvardi TherapeuticscoreTvardi Therapeutics completed a merger with Cara Therapeutics in April 2025, creating a Nasdaq-listed company focusing on treatments for fibrosis-driven diseases. The combined company trades under the symbol TVRD and focuses on STAT3 inhibitors.
Scale indicators2 records
Recent moves7 records
Expansion highlights5 records
Cara Therapeutics competitors and assessment
Company assessmentDirect peers
- Pliant Therapeutics: Clinical-stage biopharmaceutical company developing therapies for fibrotic diseases including IPF. Directly comparable to the combined entity's STAT3 inhibitor approach in fibrosis, with similar small-cap biotech profile and Nasdaq listing.
- FibroGen: Biopharmaceutical company developing therapeutics for fibrotic diseases and cancer. Comparable to the combined entity in fibrosis pipeline focus, with pamrevlumab in IPF development and similar small-cap biotech structure.
- Trevi Therapeutics: Clinical-stage biopharmaceutical company developing nalbuphine ER for chronic pruritus conditions including prurigo nodularis. Directly comparable to Cara's original Difelikefalin franchise in the chronic pruritus space.
- Vifor Pharma: Pharmaceutical company that partnered with Cara Therapeutics on the commercialization of Korsuva (Difelikefalin) for chronic kidney disease-associated pruritus in the US. Directly involved in Difelikefalin commercial pathway.
Broad incumbents
- United Therapeutics: Established biopharmaceutical company with Tyvaso (inhaled treprostinil) approved for PAH and PH-ILD, providing broader pulmonary fibrosis exposure. Comparable as an established player in fibrosis-related indications.
- Boehringer Ingelheim: Major pharmaceutical company with Ofev (nintedanib) approved for IPF and other fibrotic lung diseases. The dominant player in the IPF space that the combined entity's STAT3 inhibitor platform would need to compete against.
- Roche: Global pharmaceutical company with Esbriet (pirfenidone) approved for IPF. Represents the other entrenched competitor in the IPF market alongside Boehringer Ingelheim, setting the bar for new fibrosis entrants.
- AbbVie: Major pharmaceutical company that acquired Menlo Therapeutics and its pruritus drug serlopitant. Comparable to Cara's pruritus franchise through overlapping therapeutic focus in chronic pruritus treatments.
Emerging players
- Galapagos NV: Biotechnology company with fibrosis pipeline including IPF programs. Comparable as a mid-stage company developing fibrosis therapies with similar clinical-stage risk profile to the combined entity.
- BridgeBio Pharma: Clinical-stage biopharmaceutical company with multiple programs including in fibrotic diseases. Comparable as a small-cap biotech with diversified pipeline and Nasdaq listing focused on specialty disease areas.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Cara Therapeutics social profiles
Digital presenceCara Therapeutics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cara Therapeutics leadership team
Management profileNumber of profiles
Profiles6 records
Cara Therapeutics funding detail
Funding detailFunding overview
Funding rounds10 records
Investors15 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cara Therapeutics M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cara Therapeutics
What does Cara Therapeutics do?
Cara Therapeutics developed Difelikefalin, a proprietary peripherally acting kappa opioid receptor agonist, for the treatment of pruritus (chronic itching) associated with atopic dermatitis and chronic kidney disease-associated pruritus. The company's pipeline targeted high-unmet-need indications in pain and inflammation, and following its April 2025 merger with Tvardi Therapeutics, the combined entity expanded into STAT3 inhibitors for fibrosis-driven diseases.
Is Cara Therapeutics a public or private company?
Cara Therapeutics is a private company. It is classified as venture growth investor backed and is currently acquired.
When was Cara Therapeutics founded?
Cara Therapeutics was founded in 2004. It employs 51 to 100 people.
Where is Cara Therapeutics based?
Cara Therapeutics is headquartered in Shelton, United States, in the North America region.
Who are Cara Therapeutics's main competitors?
Direct peers on record are Pliant Therapeutics, FibroGen, Trevi Therapeutics and Vifor Pharma. Broad incumbents are United Therapeutics, Boehringer Ingelheim, Roche and AbbVie. Emerging players are Galapagos NV and BridgeBio Pharma.
Does Cara Therapeutics have an API?
No public API is recorded for Cara Therapeutics.
What industry is Cara Therapeutics in?
Cara Therapeutics's product category is Specialty Biopharmaceuticals. Its primary akta.pro industry code is HLAKACAH, Acne & Rosacea Specialty Care, with a secondary code of CRABAAAB, Treatment Skincare (Serums, Actives, Acne & Anti-aging). Its NAICS code is 3254 and its SIC code is 2834.