ZURICH, Dec 4 Reuters Pharmaceutical giant Roche said on Monday it has entered into a definitive agreement to acquire Carmot Therapeutics, a U.S. company with a research focus on obesity, for 2.7 billion.

On top of the upfront purchase price of 2.7 billion, Roche said Carmot39;s equity holders will receive payments of up to 400 million if certain milestones are achieved.

Carmot39;s current portfolio includes clinical stage subcutaneous and oral incretins aimed at treating obesity in patients with and without diabetes, as well as a number of preclinical programs, Roche said in a statement.

Roche39;s Chief Medical Officer, Levi Garraway, said the clinical data for Carmot39;s lead asset CT388, was particularly encouraging.

Carmot39;s employees will join Roche39;s pharmaceuticals division when the transaction officially closes, expected in the first quarter of 2024.

Roche will obtain access to Carmot39;s current RD portfolio including all clinical and preclinical assets.

Reporting by Noele Illien, Editing by Rachel More

Source Reuters