Carmot Therapeutics Extends Drug Discovery Collaboration with Amgen
San Francisco, CA – February 16, 2016
Carmot Therapeutics announced today it has extended the research collaboration and license agreement with Amgen Inc. (Thousand Oaks, Calif.) that was first announced in 2014. Carmot will continue to apply its proprietary lead-identification technology, Chemotype Evolution, to further advance molecules discovered during the initial collaboration. Amgen will be solely responsible for the clinical development of any molecules discovered as part of the collaboration.
Under the terms of the agreement, Carmot is entitled to fully supported research funding and pre-clinical and clinical milestone payments. In addition, a royalty will be paid to Carmot on commercial sales of products emerging from the collaboration.
“This extension of the collaboration with Amgen shows continued validation of our lead-identification technology, Chemotype Evolution,” said Carmot CEO Dr. Stig K. Hansen. “We’ve been able to identify novel chemical matter that has been validated by X-ray crystallography for two targets that historically have been extremely challenging, and we expect these molecules to be advanced in collaboration with the strong scientific team at Amgen.”
About Carmot Therapeutics, Inc.
Carmot is pioneering a transformative lead-identification approach, Chemotype Evolution, to identify superior therapeutics for human diseases. Chemotype Evolution is a proprietary technology that dramatically expands the repertoire of chemical diversity for drug discovery, providing the opportunity to tackle therapeutic targets refractory to traditional approaches. Carmot is using Chemotype Evolution to identify and optimize innovative drugs for difficult therapeutic targets, thereby addressing important unmet chemical needs.
Founded by Drs. Stig K. Hansen and Daniel A. Erlanson, Carmot has built a powerful discovery approach based on Chemotype Evolution that can rapidly and efficiently unlock novel, diverse, chemical space that is difficult to access by conventional small molecule discovery technologies. For its internal pipeline, Carmot is using Chemotype Evolution to discover superior drug candidates targeting validated pathways in metabolic disease, oncology and inflammation, with advanced candidates in metabolic disease entering IND enabling studies in 2016.