Carmot gets $150 million to finance its obesity pipeline
US clinical-stage biotech Carmot Therapeutics has announced a $150 million oversubscribed and up-sized Series E financing.
Carmot, which is working on ways to reset gut hormones to tackle obesity and diabetes, has now has raised more than $380 million since its founding in 2008.
The financing was led by Deep Track Capital. The syndicate also included new investors 5AM Ventures, Franklin Templeton, Frazier Life Sciences, Janus Henderson Investors, Millennium Management, TCGX, Venrock Healthcare Capital Partners and existing investors RA Capital Management, The Column Group and Willett Advisors.
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