
RA Capital jumps on board diabetes biotech, pitching in on $160M Series D
A small California biotech is back with more cash and a new big name VC to work with.
Carmot Therapeutics reported a Series D financing worth $160 million Tuesday morning, which the biotech said will be used to push forward and complete clinical studies and advance pre-clinical programs.
Existing backer Column Group led the financing and was joined by a “significant investment” from new investor RA Capital Management, who will hold a board observer seat at the company. Additional funders include Deep Track Capital, Willett Advisors, Horizons Ventures and “other institutional investors.”
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