Carmot Therapeutics bags $15M for GLP-1R/GIPR agonist

Carmot Therapeutics closed a $15 million series B round, which will carry its lead Type 2 diabetes drug, a GLP-1R/GIPR agonist, through clinical proof of concept. The news comes on the back of a Parkinson’s pact with Amgen worth up to $240 million.

“Together with nondilutive revenue, this financing allows us to progress several preclinical leads in the areas of diabetes, obesity and fatty liver disease. The funds will also allow expansion of our efforts targeting de-ubiquitinating enzymes,” CEO Stig Hansen said in a statement.

Read the full article at FierceBiotech