Milestone payment highlights ongoing clinical
progress of Oral KORSUVA™
DALLAS, Oct. 10
2022 /PRNewswire/ -- SWK Holdings Corporation (Nasdaq:
SWKH), a life sciences focused specialty finance company catering
to small- and mid-sized commercial-stage companies, today announced
that its wholly-owned subsidiary, Enteris BioPharma, received a
$5 million clinical progression
milestone payment from Cara Therapeutics (Nasdaq: CARA) related to
the license agreement for the Peptelligence® oral
formulation technology utilized in Oral KORSUVA™, the oral
formulation of Cara's first-in-class KOR agonist,
CR845/difelikefalin. Enteris is entitled to retain $2.5 million of this payment per the contractual
splits agreed to in the Enteris acquisition agreement.
This milestone payment is related to continued clinical progress
of Oral KORSUVA, which is currently the subject of four separate
clinical programs for pruritus in patients with hepatic impairment
due to primary biliary cholangitis (PBC), stage 4-5 chronic kidney
disease (CKD), atopic dermatitis, and notalgia paresthetica
(NP). Since license inception, Enteris has received
$33 million of payments from Cara.
Enteris is eligible to receive additional milestone payments and
sales-based royalties from Cara subject to the achievement of
certain development and sales milestones for Oral KORSUVA.
About SWK Holdings:
SWK Holdings Corporation is a life science focused specialty
finance company partnering with small- and mid-sized
commercial-stage healthcare companies. SWK provides non-dilutive
financing to fuel the development and commercialization of
lifesaving and life-enhancing medical technologies and products.
SWK's unique financing structures provide flexible financing
solutions at an attractive cost of capital to create long-term
value for all SWK stakeholders. SWK's solutions include structured
debt, traditional royalty monetization, synthetic royalty
transactions, and asset purchases, and typically range in size from
$5.0 million to $25.0
million. SWK also owns Enteris BioPharma, whose Peptelligence® and
ProPerma® drug delivery technologies create oral formulations of
peptide-based and BCS class II, III, and IV small molecules.
Additional information on the life science finance market is
available on the Company's website at www.swkhold.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "will," "may," "look
forward," "intend," "guidance," "future" or similar expressions are
forward-looking statements. Because these statements reflect SWK's
current views, expectations and beliefs concerning future events,
these forward-looking statements involve risks and uncertainties.
Investors should note that many factors, as more fully described
under the caption "Risk Factors" and elsewhere in SWK's Form 10-K,
Form 10-Q and Form 8-K filings with the Securities and Exchange
Commission and as otherwise enumerated herein, could affect the
Company's future financial results and could cause actual results
to differ materially from those expressed in such forward-looking
statements. The forward-looking statements in this press release
are qualified by these risk factors. These are factors which,
individually or in the aggregate, could cause the Company's actual
results to differ materially from expected and historical results.
You should not place undue reliance on any forward-looking
statements, which speak only as of the date they are made. We
assume no obligation to publicly update any forward-looking
statements, whether as a result of new information, future
developments or otherwise.
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SOURCE SWK Holdings Corporation
