Schroders Cap Glbl - Investment in Carmot Therapeutics
06/06/2023 07:00
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RNS Number : 6629B 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
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