Updated: Roche buys obesity and diabetes biotech Carmot Therapeutics in $2.7B merger deal
Roche is jumping back into the GLP-1 space with a definitive merger agreement to acquire Carmot Therapeutics for $2.7 billion upfront. The deal gives Roche control of Carmot’s metabolic drug pipeline, which comprises three GLP-1 agonists for obesity and related comorbidities.
Under the terms of the merger, Carmot’s equity holders could also get milestone payments of up to $400 million, according to a Roche press release. The Big Pharma will get access to the biotech’s three drug candidates, including a lead Phase II-ready subcutaneous GLP-1/GIP receptor agonist, dubbed CT-388, for obesity in patients with and without type 2 diabetes.
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