Stig Hansen, Carmot Therapeutics co-founder and CEO

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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