Schroders Capital Global Innovation Carmot Therapeutics distribution
13 Febrero 2024 - 1:00AM
RNS Regulatory News
RNS Number : 8855C
Schroders Capital Global Innovation
13 February 2024
Schroders Capital Global
Innovation Trust Plc
Carmot Therapeutics
distribution
Schroders Capital Global Innovation
Trust plc (the "Company") is pleased to announce that it has
received a $5.6 million (£4.5 million) distribution due to the sale
of Carmot Therapeutics Inc. (Carmot), a clinical-stage
biotechnology company developing therapeutics for people living
with metabolic diseases including obesity and diabetes, to global
pharmaceutical company Roche. This distribution represents a fair
value uplift of 221% relative to the last published holding value
as of 30 September 2023 (£1.4 million) and before accounting for
the potential value of future milestone payments.
In May 2023, the Company made
a $1.7 million 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. In December 2023, the Company announced that Carmot had
entered into a definitive agreement to be acquired by Roche at a
purchase price of $2.7 billion upfront and the potential for $400
million in future milestone payments.
This will be reflected in the
Company's unaudited NAV per share, dated 12 February 2024,
published later today.
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
|
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