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Roche agrees to acquire Carmot Therapeutics for $2.7bn

Roche has signed an agreement for the acquisition of US-based company Carmot Therapeutics in a $2.7bn cash deal. 

Carmot and its employees will become part of the pharmaceuticals segment of Roche.

The merger is expected to conclude in the first quarter of 2024.

Carmot’s stakeholders are eligible to receive $400m in milestone payments on meeting specified goals.

Roche will gain access to Carmot’s existing research and development (R&D) portfolio comprising all assets in clinical and pre-clinical stages.

The assets include three clinical-stage incretins, CT-388, CT-996 and CT-868, which are being analysed to potentially treat obesity and diabetes.

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CT-388 is set to enter a Phase II trial for treating obesity in people with and without type 2 diabetes. CT-996 is currently being analysed in a Phase I trial in these patients.

CT-868 is a Phase II asset being analysed to treat overweight or obese type 1 diabetes patients.

Roche global product development head and chief medical officer Levi Garraway stated: “We are encouraged by the clinical data for the lead asset CT-388, which demonstrated substantial weight loss in Phase Ib.

“These data suggest the potential for a differentiated profile to treat obesity and its associated diseases. 

“The broad Carmot portfolio offers different routes of administration and opportunities to develop combination therapies that treat obesity and potentially other indications.”

Roche will also gain exclusive access to Carmot’s Chemotype Evolution discovery platform to bolster its R&D efforts and cardiovascular and metabolic disease portfolio.

In October 2024, Roche received US Food and Drug Administration approval for Vabysmo (faricimab) for the treatment of macular oedema following retinal vein occlusion.

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