Vifor Fresenius to commercialize Cara’s Korsuva in international markets

Cara Therapeutics Inc. (NASDAQ:CARA) gained $4.96 (43%) to $16.56 on Wednesday after Vifor Fresenius Medical Care Renal Pharma Ltd. acquired rights to commercialize Korsuva difelikefalin (IV CR845) to treat chronic kidney disease-associated pruritus in dialysis patients. Vifor Fresenius acquired worldwide rights, excluding the U.S., Japan and South Korea, to the long-acting peripheral kappa opioid receptor (KOR; OPRK1) agonist for $50 million in cash and an equity investment of $20 million at $17 per share. Cara is eligible for $30 million in regulatory milestones and $440 million in commercial milestones, plus royalties.

The equity investment is a 47% premium to Cara’s close of $11.60 on Tuesday...