Karyopharm files Chapter 11, plans merger with Ayrmid

Karyopharm Therapeutics Inc. announced on November 2, 2026 that it entered into a Restructuring Support Agreement with its existing lenders and noteholders and other key stakeholders, which provides for a merger between Ayrmid Ltd. and a reorganized Karyopharm.¹ To carry out the deal, 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.¹

The company said it anticipates completing the transaction through a Chapter 11 plan and will seek Court approval of bidding procedures that would allow other parties to submit competing proposals and bids for its assets.¹ The transaction is expected to close in the first quarter of 2027, subject to the conditions described in the Chapter 11 plan.¹

Karyopharm said it has secured commitments for up to $55 million in debtor-in-possession financing from its existing secured lenders, which, once approved by the Court and combined with cash from ongoing operations, is expected to support the business during the Chapter 11 process and meet financial obligations arising after the filing date.¹

Ayrmid is described in the filing as the parent company of Gamida Cell Inc., a commercial-stage biotechnology company focused on delivering differentiated therapies that address significant unmet needs in haematology.¹ The filing states Ayrmid currently has two FDA-approved products, Omisirge (omidubicel-onlv) and APHEXDA (motixafortide).¹

The filing also cautions securityholders. It states that trading in the company's securities during the pendency of the cases is highly speculative and poses substantial risks, and that trading prices may bear little or no relationship to the actual recovery, if any, by securityholders in the cases.¹ It further states that the Prepackaged Plan provides that holders of common stock and Convertible Preferred Stock will not receive any payment or distribution, and the company expects its existing equity securities will have no value.¹ The filing also notes the expected delisting of the company's common stock from the Nasdaq Global Select Market¹ among the risks disclosed.