Carmot Therapeutics, Inc. has entered into a collaboration and license agreement with Amgen, Inc. 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.