Carmot Therapeutics Enters into Drug Discovery Collaboration with Amgen

SAN FRANCISCO--(BUSINESS WIRE)--
Carmot Therapeutics announced today that it has entered into a
collaboration and license agreement with Amgen, Inc. (Thousand Oaks,
CA). 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.

About Carmot Therapeutics, Inc.

Carmot is pioneering a transformative drug discovery 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. Carmot is using Chemotype Evolution to discover novel drug
candidates targeting validated pathways in metabolic disease, oncology
and inflammation.

For more information about Carmot and Chemotype Evolution, please visit
us at www.carmot.us.

Carmot TherapeuticsStig Hansen, Ph.D., CEO415-978-2176bd@carmot.us

Source: Carmot Therapeutics