Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 583

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 583
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 proxy statement/prospectus for details about Cara’s letter of credit for its lease for Cara’s principal office in Stamford, Connecticut.

Based on the Enteris License Agreement that Cara entered into in August 2019, Cara is obligated to pay (1) milestone payments upon the achievement of certain development, regulatory and commercial milestones and (2) low-single digit royalty percentages on net sales of licensed products, subject to reductions in specified circumstances. As these milestone payments may or may not be achieved, and royalties may or may not be owed depending on Cara’s future commercial success, there were no future potential payments that were considered cash requirements in the table above as of September 30, 2024. Cara did not make any milestone payments to Enteris during the three and nine months ended September 30, 2024 and 2023. See Note 17 of Cara’s Notes to Condensed Consolidated Financial Statements as of September 30, 2024, Commitments and Contingencies , included elsewhere in this proxy statement/prospectus for details about Cara’s Enteris License Agreement.

During the fourth quarter of 2023, Cara, through its wholly-owned subsidiary Cara Royalty Sub, entered into the Original HCR Agreement with HCR pursuant to which Cara Royalty Sub sold to HCR certain of its rights to the Royalties, due and payable to Cara Royalty Sub (as Cara’s assignee) under Cara’s agreements with CSL Vifor and Maruishi, in exchange for up to $40.0 million. Cara has retained all of its rights, title and interest in, to and under the Covered License Agreements that relate to any non-intravenous formulation of difelikefalin. These future payments to HCR were not included in the table above since the amounts and timing of royalty and milestone payments received under the agreements with CSL Vifor and Maruishi could change in the future as they are subject to CSL Vifor’s and Maruishi’s commercialization efforts (see “Royalty Purchase and Sale Agreement” above).

On December 17, 2024, the Sellers, entered into an APA with CSL Vifor, pursuant to which, at the consummation of the transaction, Sellers will sell to CSL Vifor and CSL Vifor will acquire from Sellers certain assets and rights for the development, manufacture and commercialization of difelikefalin as well as certain associated liabilities (Asset Disposition) for a purchase price of $900,000 (subject to certain