Is the fu­ture of di­a­betes drugs in dual GIP and GLP-1 in­cretin re­cep­tor ag­o­nists? That's the $47M ques­tion for Car­mot

Near­ly three years af­ter clos­ing its Se­ries B, Car­mot Ther­a­peu­tics has re­turned to the fundrais­ing well with a new round. And this time they brought phar­ma gi­ant Am­gen in­to the fold.

The Berke­ley, CA-based biotech an­nounced Thurs­day the com­ple­tion of $47 mil­lion in Se­ries C fi­nanc­ing to boost de­vel­op­ment of pro­grams tar­get­ing in­cretins for the treat­ment of meta­bol­ic dis­eases. Most of the fund­ing will take Car­mot’s lead can­di­date — tar­get­ing GIP and GLP-1 — through Phase II stud­ies start­ing in ear­ly 2021 and a sec­ond pro­gram through Phase I and II tri­als.

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