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Cara Therapeutics Appoints Mani Mohindru, Ph.D., Chief Financial Officer

STAMFORD, Conn., Aug. 01, 2017 (GLOBE NEWSWIRE) -- Cara Therapeutics, Inc. (Nasdaq:CARA), a biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors, today announced the appointment of Mani Mohindru, Ph.D., as Chief Financial Officer (CFO) and Chief Strategy Officer, effective August 15, 2017. Josef Schoell, who has held the CFO position at Cara for more than a decade, will be retiring.

“We are very pleased to welcome Mani to the Cara management team. She brings a wealth of strategic development and financial expertise from her years of leadership in the biopharma industry, which we look forward to drawing upon as we advance CR845 through late-stage clinical development and towards the marketplace,” said Derek Chalmers, Ph.D., D.Sc., President and Chief Executive Officer of Cara Therapeutics. “Our team congratulates Josef and wishes him the very best in his retirement, with gratitude for his many significant contributions over the years.”

“I am thrilled to join Cara’s leadership team at such an exciting time for the company,” said Dr. Mohindru. “CR845 has the potential to address a broad range of pain and pruritic conditions with high unmet medical needs. I look forward to executing on Cara’s plans to bring CR845 to patients while continuing to drive shareholder value.”

Dr. Mohindru brings more than a decade of leadership experience in the biopharmaceutical industry to Cara. Most recently, she served as Chief Strategy Officer at Curis, Inc. (Nasdaq:CRIS), where she was instrumental in the development and management of overall corporate strategy. She was also responsible for the company’s engagement with the investment community, building extensive relationships with industry analysts and investors. Earlier in her career, Dr. Mohindru spent several years as an equity research analyst covering the biotechnology sector at ThinkEquity, LLC, Credit Suisse and UBS. She also co-founded Immtox LLC, a privately held biotechnology company, and was a healthcare industry consultant at Axon Healthcare Partners and SAI Healthcare (acquired by IMS Health). Dr. Mohindru received her Ph.D. in neurosciences from Northwestern University.

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 peripheral kappa opioid receptors. Cara is developing a novel and proprietary class of product candidates, led by CR845, that target the body's peripheral nervous system. CR845 has demonstrated initial efficacy in patients with moderate-to-severe pain, without inducing many of the undesirable side effects typically associated with currently available pain therapeutics. In patients with moderate-to-severe CKD-associated pruritus, CR845 has demonstrated its potential to reduce itch and improve quality of life.

Forward-looking Statements

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, including the potential of CR845 to address medical needs in a range of pain and pruritic conditions, and the ability to drive shareholder value. 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's filings with the Securities and Exchange Commission, including the "Risk Factors" section of Cara's Annual Report on Form 10-K for the year ended December 31, 2016 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. Except to the extent required by law, Cara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

MEDIA CONTACT: Annie Starr 6 Degrees 973-415-8838 astarr@6degreespr.com INVESTOR CONTACT: Michael Schaffzin Stern Investor Relations, Inc. 212-362-1200 michael@sternir.com

Source:Cara Therapeutics Inc.