Investment in Carmot Therapeutics

Schroders Capital Global Innovation

06 June 2023

 

Schroders Capital Global Innovation Trust plc

Investment in Carmot Therapeutics

Schroders Capital Global Innovation Trust plc (the "Company") is pleased to announce it has made an investment of $1.7 million (£1.4 million) in US-based, clinical-stage biopharmaceutical company, Carmot Therapeutics, Inc ("Carmot"), as part of its Series E financing round.

Carmot discovers and develops disease-modifying therapies for people living with metabolic diseases. Utilizing a pioneering drug discovery platform called Chemotype Evolution, Carmot identifies novel drug targets and develops a broad pipeline of experimental therapeutics with the aim of treating patients suffering from metabolic diseases, including obesity and diabetes.

The proceeds from the Series E round will support development of Carmot's broad clinical-stage metabolic pipeline including two Phase 2 trials of CT-388, a once weekly, injectable experimental therapeutic to treat patients with obesity and/or type 2 diabetes. Results from the multiple ascending dose cohorts will be presented at the 83rd American Diabetes Association Scientific Sessions in late June 2023. Additional Phase 2 trials in obese adults are planned to begin in 2023.

Deep Track Capital led a Series E financing, which was also supported by a syndicate of new and existing healthcare investors including 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.

The Company is committed to reporting on its sustainability profile and discloses, where appropriate, the United Nations' Sustainable Development Goals ("SDGs") associated with all investments. This investment in Carmot is in line with SDG 3 "Good health and well-being", specifically Target 3.4 "Reduce mortality from non-communicable diseases and promote mental health" and Target 3.B "Support research, development and universal access to affordable vaccines and medicines".

Tim Creed, Lead Portfolio Manager, and Harry Raikes, Co-Portfolio Manager commented: "Carmot Therapeutics is the sixth investment in our growing portfolio of new life science investments, at the clinical or near-clinical stage, and underpinned by high quality science. All these investments are identified and assessed by our experienced specialist healthcare investment team. We believe that Carmot's pipeline of experimental therapeutics has the potential significantly to improve the quality of life for patients suffering from metabolic diseases, including obesity and diabetes. Our ability to access this restricted and oversubscribed funding round is testament to the network that our healthcare team has developed across the industry."

Enquiries:

Schroder Investment Management Limited

Shilla Pindoria	020 7658 6000
Augustine Chipungu	020 7658 2106
John Spedding	020 7658 3206

 

END