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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