ZURICH (Reuters) – Pharmaceutical giant Roche announced on Monday that it had reached a definitive agreement to acquire the American group Carmot Therapeutics, specializing in the treatment of obesity, for an initial amount of $2.7 billion (2.49 Billions of Euro’s).
In addition to this initial purchase price, Roche indicated that Carmot shareholders will receive additional payments of up to $400 million if certain milestones are met.
Carmot’s current portfolio includes clinical-stage subcutaneous and oral incretins aimed at treating obesity in diabetic and non-diabetic patients, as well as a number of preclinical programs, Roche said in a statement.
The clinical data for CT-388, Carmot’s lead weight loss drug, is particularly encouraging, commented Levi Garraway, the group’s chief medical officer.
Carmot employees will join Roche’s pharmaceutical division when the transaction is officially completed, which is expected in the first quarter of 2024.
Roche will have access to Carmot’s current research and development portfolio, including all clinical and preclinical assets.
(Reporting Noele Illien, Diana Mandiá, editing by Kate Entringer)
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