Roche has completed its acquisition of Carmot Therapeutics, a clinical-stage biotechnology company developing therapeutics for metabolic diseases, for $2.7 billion and as much as $400 million based on the achievement of certain milestones.

Roche obtains access to Carmot’s current R&D portfolio including all clinical and preclinical assets, as well as exclusive access to Carmot’s Chemotype Evolution discovery platform in metabolism. Carmot and its employees will join the Roche Group as part of Roche’s Pharmaceuticals Division.

Carmot’s portfolio of incretins include: lead asset CT-388, a Phase-2 ready, dual GLP-1/GIP receptor agonist for the treatment of obesity in patients with and without type 2 diabetes; CT-996, a once-daily oral, small molecule GLP-1 receptor agonist currently in Phase-1 intended to treat obesity in patients with and without type 2 diabetes; and CT-868, a Phase-2, once-daily subcutaneous injectable, dual GLP-1/GIP receptor agonist intended for the treatment of type 1 diabetes patients with overweight or obesity.