Karyopharm Files Chapter 11 and Plans Merger With Ayrmid

Karyopharm Therapeutics (KPTI ) announced on November 2, 2026 that it has entered into a Restructuring Support Agreement with its existing lenders and noteholders and other key stakeholders, providing for a merger between Ayrmid Ltd. and a reorganized Karyopharm. To implement the transaction, the Newton, Massachusetts-based company filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, and it secured commitments for up to $55 million in debtor-in-possession (DIP) financing from its existing secured lenders.

Karyopharm anticipates completing the transaction through a Chapter 11 plan and will seek court approval of bidding procedures that allow other parties to submit competing proposals and bids for the company’s assets. Ayrmid will serve as lead bidder in the court-supervised sale process. The transaction is expected to close in the first quarter of 2027, subject to the conditions described in the Chapter 11 plan.

Financing and Operations

Once approved by the court, the 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 financial obligations arising after the filing date, the company stated. Karyopharm said it will continue to operate in the ordinary course of business and remains focused on advancing its programs in multiple myeloma and myelofibrosis. Parties interested in participating in the sale process were directed to contact Centerview Partners.

“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 of Karyopharm.

“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. Wiley said Ayrmid sees considerable potential in Karyopharm’s marketed products, development pipeline and experienced team and believes that, subject to successful completion of the transaction, the companies can build a broader commercial-stage hematology business.

Advisors and Company Backgrounds

Sidley Austin LLP is advising Karyopharm as legal counsel, with Centerview Partners LLC as investment banker and FTI Consulting Inc. (FCN ) as financial and communications advisor. An ad hoc group of term lenders and noteholders is advised by Latham & Watkins LLP and Haynes and Boone LLP as legal counsel and Houlihan Lokey (HLI ) Capital, Inc. as investment banker and financial advisor. Paul Hastings LLP is advising Ayrmid as legal counsel.

Karyopharm is a commercial-stage pharmaceutical company focused on the science of nuclear export inhibition. Its lead therapy, XPOVIO (selinexor), is described by the company as a first-in-class inhibitor of exportin 1 (XPO1); it is marketed in the U.S. for adults with relapsed or refractory multiple myeloma and is approved as XPOVIO or NEXPOVIO in more than 50 countries and territories outside the U.S. The company is advancing selinexor in hematologic cancers, including myelofibrosis, and is evaluating XPO1 inhibition across myeloproliferative neoplasms with next-generation compounds including eltanexor.

Ayrmid, the parent company of Gamida Cell Inc., is a commercial-stage biotechnology company with two FDA-approved products: Omisirge (omidubicel-onlv), a nicotinamide modified allogeneic hematopoietic progenitor cell therapy approved to treat adults and pediatric patients 12 years and older with hematologic malignancies and adults and pediatric patients 6 years and older with severe aplastic anemia, and APHEXDA (motixafortide), a CXCR4 antagonist approved to mobilize hematopoietic stem cells in adult patients with multiple myeloma.

The release’s forward-looking statements identify risks including timely court approval of the DIP facility and the bidding procedures, potential objections that could protract the cases, employee retention, and the expected delisting of Karyopharm’s common stock from the Nasdaq Global Select Market.