Carmot Therapeutics Closes $160 Million Series D Financing To Advance Clinical Pipeline Of Novel Incretin Receptor Modulators

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Carmot Therapeutics (“Carmot”) is focused on the discovery and development of disease-modifying therapies for patients living with metabolic diseases and cancer. Carmot applies Chemotype Evolution (CE), a pioneering drug discovery platform, in combination with unique biological expertise to identify innovative and superior therapeutics. In metabolic disease, Carmot is combining CE with novel insights into incretin receptor signaling to develop a broad, valuable pipeline of peptide-based and small molecule therapeutics. Carmot’s dual GLP-1/GIP receptor modulator has entered Phase 2 development and has the potential to be best in a new class of treatments for obesity and its many co-morbidities including type 2 diabetes. In addition, Carmot is using CE to identify novel covalent inhibitors and to develop new therapeutics targeting major oncogenic pathways, internally and with partners. Carmot has successfully applied CE with strategic partners including the collaboration with Amgen that supported Amgen’s development of LUMAKRAS (sotorasib), the first approved KRAS inhibitor.