Carmot Therapeutics Stock

Schroders Capital Global Innovation (INOV) has announced that its portfolio company Carmot Therapeutics Inc., a clinical-stage biotechnology company dedicated to developing life-changing therapeutics for people living with metabolic diseases including obesity and diabetes, entered into a definitive agreement to be acquired by Roche, on 3 December 2023. Roche is acquiring Carmot at a purchase price of US$2.7 billion upfront with the potential for US$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. INOV says that full details of its profit on the sale will be released in due course.

Gloomy clouds may still hang thick over the initial public offering (IPO) market, but some companies are still wading into the listing abyss. Investors seeking a new biopharma play have a new deal to size up. On November 20, Carmot Therapeutics filed its paperwork with the Securities and Exchange Commission (SEC) for its debut in public markets. The firm has not yet released price details for the deal; instead, it is citing the placeholder sum of $100 million in its submitted documentation. The company hopes to list its shares on Nasdaq “as soon as practicable after this registration” under the ticker “CRMO.”

Carmot Therapeutics, a Berkeley, CA-based clinical-stage biotechnology company, raised $150M in Series E funding. The round was led by Deep Track Capital with participation from 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.