Karyopharm Therapeutics Inc. announced on November 2, 2026, that it has entered into a Restructuring Support Agreement with its lenders and noteholders. The agreement provides for a merger between Ayrmid Ltd. and a reorganized Karyopharm. To facilitate this transaction, Karyopharm 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 merger through a Chapter 11 plan. The process will include court approval of bidding procedures, which will allow other parties to submit competing proposals for the company's assets. Karyopharm expects the transaction to close in the first quarter of 2027, subject to the conditions of the plan.
In connection with the restructuring, Karyopharm secured commitments for up to $55 million in debtor-in-possession financing from its existing secured lenders. The company stated that ongoing operations are expected to be uninterrupted during the sale process.
Karyopharm emphasized that it remains focused on advancing its multiple myeloma and myelofibrosis programs. The company noted that its common stock and Convertible Preferred Stock are expected to have no value following the restructuring, and holders of these securities will likely experience a complete loss on their investment.
Ayrmid, the parent company of Gamida Cell Inc., is serving as the lead bidder in the court-supervised sale process. Ayrmid’s CEO, Dr. Joe Wiley, stated that the company sees a strong strategic fit with Karyopharm, citing complementary portfolios and established commercial capabilities.
