On November 2, 2026 Karyopharm Therapeutics Inc. (Nasdaq: KPTI) ("Karyopharm" or the "Company"), a commercial-stage pharmaceutical company pioneering novel cancer therapies, reported it has entered into a Restructuring Support Agreement with its existing lenders and noteholders and other key stakeholders, which provides for a merger between Ayrmid Ltd. ("Ayrmid") and a reorganized Karyopharm (the "Transaction"). During this process, Karyopharm remains focused on its commitment to advancing its multiple myeloma and myelofibrosis programs and improving the lives of the patients Karyopharm serves and will continue to operate in the ordinary course of business.
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To implement the Transaction, Karyopharm has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. The Company anticipates completing the Transaction through a Chapter 11 plan, and the Company will seek Court approval of bidding procedures, which will allow other parties to submit competing proposals and bids for the Company’s assets. The Transaction is expected to close in the first quarter of 2027, subject to the conditions described in the Chapter 11 plan.
"Following a comprehensive review of available alternatives, we believe this process provides a clear framework to pursue a value maximizing transaction for our stakeholders while continuing our important work of advancing therapies for patients with multiple myeloma and myelofibrosis," said Richard Paulson, President and Chief Executive Officer at Karyopharm. "We are pleased to have signed an agreement with Ayrmid, a company committed to advancing meaningful therapies for patients with hematological disorders. Ayrmid’s proposal underscores the strategic interest in our programs and establishes a strong foundation as we move through this process designed to maximize value. Throughout, we will remain focused on supporting our employees, maintaining continuity across the business, and advancing our mission to improve the lives of patients."
"We see a strong strategic fit between Ayrmid and Karyopharm, with complementary portfolios, established commercial capabilities and a shared commitment to addressing significant unmet needs in hematology," said Dr. Joe Wiley, Chairman and CEO of Ayrmid. "We see considerable potential in Karyopharm’s marketed products, development pipeline and experienced team, and believe that, together, we can build a broader, stronger commercial-stage hematology business with meaningful opportunities for future growth. Subject to the successful completion of the transaction, we look forward to working with the Karyopharm team to realize that potential and continue delivering important therapies to patients in need."
In connection with this process, Karyopharm has secured commitments for up to $55 million in debtor-in-possession ("DIP") financing from its existing secured lenders. Once approved by the Court, this DIP financing, combined with cash generated from the Company’s ongoing operations, is expected to support the go-forward business during the Chapter 11 process and to meet its financial obligations arising subsequent to the filing date.
Karyopharm is prepared to move through this process quickly and efficiently without any disruption to either its ordinary course operations or the partnerships essential to supporting Karyopharm’s patients and advancing its programs.
Parties interested in participating in Karyopharm’s sale process should contact Centerview Partners at [email protected].
Additional Information
Additional information about Karyopharm’s restructuring process is available at View Source, or by contacting Stretto, the Company’s noticing and claims agent, at (866) 270-4922 (toll-free) and (949) 561-0471 (international).
Karyopharm is advised in this matter by Sidley Austin LLP as legal counsel, Centerview Partners LLC as investment banker and FTI Consulting Inc. as financial and communications advisor.
An ad hoc group of term lenders and noteholders is advised in this matter by Latham & Watkins LLP and Haynes and Boone LLP as legal counsel and Houlihan Lokey Capital, Inc. as investment banker and financial advisor.
Ayrmid is advised in this matter by Paul Hastings LLP as legal counsel.
(Press release, Karyopharm, NOV 2, 2026, View Source [SID1234674034])