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Cara Therapeutics Lands $12 Million Series C Funding

Monday, July 28, 2008 5:46:00 AM PDT | VentureDeal Staff

Shelton, Connecticut --  Biotechnology company Cara Therapeutics announced that it has raised $12.3 million in additional series C funding.

Cara is focused on developing therapeutics to treat diseases associated with acute pain and inflammation.  The company's first patented compound, CR665, has entered clinical testing.

Investors in the round included lead investor Devon Park BioVentures as well as Ascent Venture Partners, Mitsubishi Corp., Scottish Widows Investment Partnership, MVM Life Science Partners and Alta Partners.

The company said that the additional funds will be used for its second-generation opioid agonist, CR845.

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