Carmot Therapeutics has entered into a collaboration and license agreement with Amgen, Inc. During the collaboration Carmot will apply its proprietary Chemotype Evolution to discover novel drug leads for two targets selected by Amgen. Carmot and Amgen will work together to identify and optimize drug candidates, while Amgen will be solely responsible for their clinical development.
Under the terms of the agreement, Carmot will receive an upfront payment, research funding, and pre-clinical and clinical milestone payments. In addition, a royalty will be paid on commercial sales of products emerging from the collaboration.
“This collaboration with Amgen, one of the world’s largest and most successful biotech companies, is a significant milestone for Carmot and a recognition of the potential of Chemotype Evolution. We look forward to working with the excellent scientific team at Amgen to tackle two challenging therapeutic targets with significant market potential,” said Carmot CEO, Dr Stig K Hansen.
Carmot is pioneering a transformative drug discovery approach, Chemotype Evolution, to identify superior therapeutics for human diseases.