Carmot Therapeutics expands drug discovery collaboration with Amgen

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.

Carmot CEO Stig Hansen said: "This extension of the collaboration with Amgen shows continued validation of our lead-identification technology, Chemotype Evolution.

"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."