Roche enters into a definitive merger agreement to acquire Carmot Therapeutics, including three clinical stage assets with best-in-class potential in obesity and diabetes
04 12월 2023 - 3:00PM
Roche enters into a definitive merger agreement to acquire Carmot
Therapeutics, including three clinical stage assets with
best-in-class potential in obesity and diabetes
- Carmot Therapeutics’s
R&D portfolio of clinical stage incretins has great potential
to treat obesity, diabetes and potentially other diseases both as
standalone medicines and in combination with Roche’s in-house
assets
- Lead asset CT-388 is a
Phase-2 ready dual GLP-1/GIP agonist with best-in-class potential
for the treatment of obesity and its comorbidities
- Under the terms of the
agreement, Roche will pay a purchase price of USD 2.7 billion
upfront and additional milestone payments of up to USD 400
million
Basel, 4 December 2023 - Roche (SIX: RO, ROG; OTCQX: RHHBY)
announced today the entry into a definitive merger agreement to
acquire Carmot Therapeutics, Inc. (“Carmot”), a privately owned US
company based in Berkeley, California. Carmot’s R&D portfolio
includes clinical stage subcutaneous and oral incretins with
best-in-class potential to treat obesity in patients with and
without diabetes, as well as a number of preclinical programs.
The acquisition gives Roche access to a 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.
The existing clinical data for Carmot’s assets, especially the
lead asset CT-388, suggests a best-in-class potential to achieve
and maintain weight loss with differentiated efficacy. Moreover,
the assets provide an opportunity for combinations with existing
Roche pipeline assets including ones focused on other benefits,
such as preserving muscle mass. Incretins are gut hormones that are
secreted after food intake and play a role in modulating blood
glucose by stimulating insulin secretion and suppressing appetite.
The incretin-based portfolio could also be expanded to other
indications where incretins play a role including cardiovascular,
retinal and neurodegenerative disease.
“Obesity is a heterogeneous disease, which contributes to many
other diseases that together comprise a significant health burden
worldwide. By combining Carmot’s portfolio with programs in our
Pharmaceuticals pipeline and our Diagnostics expertise and
portfolio of products across cardiovascular and metabolic diseases,
we are aiming to improve the standard of care and positively impact
patients’ lives,” said Thomas Schinecker, CEO Roche Group.
“We are encouraged by the clinical data for the lead asset
CT-388, which demonstrated substantial weight loss in Phase 1b.
These data suggest the potential for a differentiated profile to
treat obesity and its associated diseases”, says Levi Garraway,
Roche’s Chief Medical Officer and Head of Global Product
Development. “The broad Carmot portfolio offers different routes of
administration and opportunities to develop combination therapies
that treat obesity and potentially other indications.”
Terms of the acquisitionUnder the terms of the
agreement, Roche will pay Carmot’s equity holders a purchase price
of USD 2.7 billion in cash at the closing of the transaction.
Additionally, Carmot’s equity holders are entitled to receive
payments of up to USD 400 million depending on the achievement of
certain milestones. Upon closing of the transaction, Roche will
obtain access to Carmot’s current R&D portfolio including all
clinical and pre-clinical assets, with Carmot and its employees
joining the Roche Group as part of Roche’s Pharmaceuticals
Division.
Upon closing of the transaction, Roche will also have exclusive
access to Carmot’s innovative Chemotype Evolution discovery
platform in metabolism to further strengthen Roche’s R&D
efforts and portfolio across cardiovascular and metabolic
diseases.
The transaction is subject to the expiration or termination of
the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 and other customary closing conditions.
The closing of the transaction is currently expected to take place
in the first quarter of 2024.
About Carmot TherapeuticsCarmot Therapeutics
(Carmot) is a clinical-stage biotechnology company dedicated to
developing life-changing therapeutics for people living with
metabolic diseases, including obesity and diabetes. Based in
Berkeley, California, the company employs ~70 people. Carmot’s
expertise in metabolic biology has enabled the development of a
broad pipeline of therapeutics, including three clinical
candidates: CT-388 (once-weekly subcutaneous injectable, dual
GLP-1/GIP receptor agonist), CT-996 (once-daily oral, small
molecule GLP-1 receptor agonist) and CT-868 (once-daily
subcutaneous injectable, dual GLP-1/GIP receptor agonist) and
others in preclinical development. All of these novel compounds
have the potential to deliver an enhanced treatment response in
people with metabolic diseases. For more information, visit the
Carmot Therapeutics website.
About obesityObesity is one of the most
pervasive health challenges in the world and an area where recent
scientific advances can help meet the high unmet medical need. This
condition is associated with many health challenges and
comorbidities, including type 2 diabetes, cardiovascular diseases,
fatty liver, and chronic kidney disease, which together place an
incredible strain on healthcare systems worldwide. Over 4 billion
people are estimated to be obese or overweight by 2035, approaching
50% of the world’s population.1
Scientific advances in the field of incretins and an increased
understanding of relevant disease biology have significantly
changed the possibilities to treat obesity over the last years.
Incretins are gut hormones that are secreted after food intake and
play a role in modulating blood glucose by stimulating insulin
secretion. Emerging scientific data show a wider biologic effect of
incretins in multiple organs including the liver, heart and brain,
suggesting they may have broader roles in the body. Incretins are
clinically validated targets and the emerging standard of care
therapies in obesity and could also be effective targets in other
disease areas.
About Roche Founded in 1896 in Basel,
Switzerland, as one of the first industrial manufacturers of
branded medicines, Roche has grown into the world’s largest
biotechnology company and the global leader in in-vitro
diagnostics. The company pursues scientific excellence to discover
and develop medicines and diagnostics for improving and saving the
lives of people around the world. We are a pioneer in personalised
healthcare and want to further transform how healthcare is
delivered to have an even greater impact. To provide the best care
for each person we partner with many stakeholders and combine our
strengths in Diagnostics and Pharma with data insights from the
clinical practice.
In recognising our endeavour to pursue a long-term perspective
in all we do, Roche has been named one of the most sustainable
companies in the pharmaceuticals industry by the Dow Jones
Sustainability Indices for the thirteenth consecutive year. This
distinction also reflects our efforts to improve access to
healthcare together with local partners in every country we
work.
Genentech, in the United States, is a wholly owned member of the
Roche Group. Roche is the majority shareholder in Chugai
Pharmaceutical, Japan.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected
by law.References[1] World Obesity Atlas 2023,
https://data.worldobesity.org/publications/WOF-Obesity-Atlas-V5.pdf
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- 04122023_MR_Roche acquires Carmot Therapeutics_en
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