Roche completes $2.7 billion acquisition of Carmot Therapeutics

Roche

Roche completed its acquisition of Carmot Therapeutics, a clinical-stage biotech developing obesity and diabetes therapies, for $2.7 billion upfront plus up to $400 million in milestone payments. Carmot's three lead programs include CT-388, a once-weekly dual GLP-1/GIP agonist, and CT-996, a daily oral GLP-1 receptor agonist.

• Acquisition gives Roche three clinical-stage obesity/diabetes candidates and proprietary Chemotype Evolution discovery platform
• CT-388 and CT-868 phase 2 data expected H2 2024; CT-996 phase 2 data in 2025
• Deal caps Roche's strategy to compete with Eli Lilly and Novo Nordisk in the blockbuster obesity market