Carmot Therapeutics
AcquiredDeveloping life-changing therapeutics for metabolic disease
Berkeley, United States · Founded 2008 · $497.0M raised
- Headquarters
- Berkeley, California
- Employees
- 11–50
- Founded
- 2008
- Business Model
- biotech
- Website
- carmottherapeutics.com
- Total Funding
- $497.0M
- Last Round
- $150.0M Series EMay 2023
- Rounds
- 5
- Acquired by
- RocheDec 2023 · $2.7B
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
About
Carmot Therapeutics was a clinical-stage biotechnology company dedicated to developing life-changing therapeutics for people living with metabolic diseases including obesity and type 2 diabetes. The company's pipeline included CT-388 (a once-weekly injectable dual GLP-1/GIP receptor agonist), CT-868 (dual GLP-1/GIP receptor agonist in Phase 2 for obesity/T1D), and CT-996 (an oral small molecule GLP-1 receptor agonist). Carmot's drug candidates were designed as biased agonists that activate cAMP signaling with minimal beta-arrestin recruitment, expected to yield prolonged pharmacological activity and strong tolerability. The company was acquired by Roche in January 2024 for $2.7 billion upfront ($3.1 billion total) and is now operated as part of Roche/Genentech's obesity and diabetes pipeline.
Summary
Carmot Therapeutics is a Biotech company based in Berkeley, United States, founded in 2008. It has raised $497.0M in total across 5 rounds, most recently a $150.0M Series E round in May 2023. Investors include Deep Track Capital, The Column Group and Horizons Ventures.
Funding & Exit History
Dec 2023
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Funding: Series A through Series E. Amounts, valuations, and investors where available.
Investors
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