Schroders Capital Global Innovation Sale of Carmot Therapeutics (0922W)
08 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMINOV
RNS Number : 0922W
Schroders Capital Global Innovation
08 December 2023
Schroders Capital Global Innovation Trust Plc
Sale of Carmot Therapeutics
Schroders Capital Global Innovation Trust plc (the "Company") is
pleased to announce that its portfolio company Carmot Therapeutics
Inc. (Carmot), a clinical-stage biotechnology company dedicated to
developing life-changing therapeutics for people living with
metabolic diseases including obesity and diabetes, on 3 December
2023, has entered into a definitive agreement to be acquired by
Roche, a global pharmaceutical company, at a purchase price of $2.7
billion upfront and the potential for $400 million in milestone
payments. The agreement is expected to close in the first quarter
of 2024, subject to customary closing conditions and required
regulatory approvals. Full details of the profit on sale will be
released in due course.
In May 2023, the Company made a $1.7m investment into Carmot,
via Harbour 25, as part of its $150m Series E funding round to
support development of Carmot's broad clinical-stage metabolic
pipeline, including two phase 2 trials of CT-388, a once weekly,
dual GLP-1/GIP receptor modulator for obese adults with and without
type 2 diabetes. Carmot's Series E round was led by Deep Track
Capital and supported by a syndicate of new and existing healthcare
investors including 5AM Ventures, Franklin Templeton, Frazier Life
Sciences, Janus Henderson Investors, RA Capital Management,
Millennium Management, TCGX, The Column Group, Venrock Healthcare
Capital Partners and Willett Advisors.
Tim Creed, Lead Portfolio Manager, and Harry Raikes,
Co-Portfolio Manager commented: "We chose to invest in Carmot
Therapeutics based on its compelling assets, which are backed by
robust clinical data. The company operates in the rapidly expanding
GLP1 space, which has garnered significant attention worldwide.
Overall, the company fulfilled our four key investment criteria: a
strong management team, a significant market opportunity, high
quality science and reputable co-investors. We are delighted by the
news of this sale, which has occurred earlier than expected but
reflects the unique nature of Carmot's pipeline."
Enquiries:
Schroder Investment Management Limited
Shilla Pindoria (Company Secretary) 0207 658 6000
Augustine Chipungu (Press) 0207 658 2106
John Spedding (Head of Investment
Trusts) 0207 658 3206
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRDDLFBXLLFFBL
(END) Dow Jones Newswires
December 08, 2023 02:00 ET (07:00 GMT)
Schroders Capital Global... (LSE:INOV)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Schroders Capital Global... (LSE:INOV)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024