Roche completes acquisition of Carmot Therapeutics

Carmot Therapeutics announced that its acquisition by the Roche Group has been completed. Having successfully completed its acquisition of Carmot, Roche obtains access to Carmot’s current R&D portfolio including all clinical and pre-clinical assets, as well as exclusive access to Carmot’s innovative Chemotype Evolution discovery platform in metabolism, further strengthening Roche’s R&D efforts and portfolio across cardiovascular and metabolic diseases. Carmot and its employees will join the Roche Group as part of Roche’s Pharmaceuticals Division. The acquisition gives Roche access to Carmot’s differentiated portfolio of incretins including: CT-388, the lead asset, is a Phase-2 ready, dual GLP-1/GIP receptor agonist for the treatment of obesity in patients with and without type 2 diabetes. Injected subcutaneously once a week, it has potential as a standalone and combination therapy to improve weight loss and to be expanded to other indications. CT-996, a once-daily oral, small molecule GLP-1 receptor agonist currently in Phase-1 intended to treat obesity in patients with and without type 2 diabetes. CT-868, a Phase-2, once-daily subcutaneous injectable, dual GLP-1/GIP receptor agonist intended for the treatment of type 1 diabetes patients with overweight or obesity. Roche has acquired all outstanding shares and options of Carmot at a purchase price of $2.7 billion. Carmot’s equity holders are additionally entitled to receive payments of up to $400 million depending on the achievement of certain milestones.