Carmot Therapeutics
Carmot Therapeutics was a Berkeley-based, clinical-stage biotechnology company developing a portfolio of biased GLP-1/GIP dual agonists and an oral GLP-1 small molecule for obesity and diabetes using its proprietary Chemotype Evolution discovery platform. Acquired by Roche for $2.7 billion in December 2023.
- Company typePrivate
- Founded2008
- HeadquartersBerkeley, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Carmot Therapeutics does
Carmot Therapeutics was a privately-held, clinical-stage biotechnology company headquartered in Berkeley, California, developing therapeutics for metabolic diseases with primary focus on obesity and diabetes. The company leveraged its proprietary Chemotype Evolution discovery platform to identify novel gut hormone-based drug candidates, with particular expertise in biased GLP-1 and GIP receptor agonist design intended to minimize β-arrestin recruitment and reduce receptor desensitization for prolonged pharmacological activity. Founded in 2008, Carmot operated with a lean headcount of 11–50 employees and was incorporated in Delaware.
Carmot's pipeline comprised three clinical-stage assets: CT-388/RG6640, a once-weekly subcutaneous injectable dual GLP-1/GIP receptor agonist in Phase 1b trials for obesity and type 2 diabetes; CT-868/RG6641, a GLP-1/GIP receptor agonist in Phase 2 trials for overweight/obesity and type 1 diabetes; and CT-996/RG6652, a once-daily oral small molecule GLP-1 receptor agonist in Phase 1 trials for obesity and type 2 diabetes. Each candidate was engineered with biased signaling properties to optimize cAMP-mediated efficacy while limiting receptor internalization. CT-388 Phase 2 results showed approximately 23 percentage points greater body weight loss versus placebo at 48 weeks.
As a pre-commercial R&D-stage biotech, Carmot generated no product revenue; its business model was venture-funded clinical development with monetization through strategic exit. The company raised approximately $310M across its Series D ($160M, July 2022, led by The Column Group) and Series E ($150M, May 2023, led by Deep Track Capital), following earlier rounds including a $47M Series C (September 2020, led by Amgen Ventures). In December 2023, Roche entered a definitive merger agreement to acquire Carmot for $2.7 billion, with the transaction closing in January 2024, integrating Carmot's pipeline and Chemotype Evolution platform into Roche's metabolic and obesity strategy targeting a market projected to exceed $100 billion annually.
Carmot Therapeutics firmographics
Firmographics- Name
- Carmot Therapeutics
- Legal name
- Carmot Therapeutics
- Website
- https://carmot.us
- Company type
- Private
- Founded year
- 2008
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Carmot Therapeutics was a Berkeley-based, clinical-stage biotechnology company developing a portfolio of biased GLP-1/GIP dual agonists and an oral GLP-1 small molecule for obesity and diabetes using its proprietary Chemotype Evolution discovery platform. Acquired by Roche for $2.7 billion in December 2023.
- Ownership category
- akta.pro rank
Carmot Therapeutics industry classification
Industry- Product category
- Metabolic Disease Therapeutics
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE)
- akta.pro secondary industry
- Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)
Keywords
Where Carmot Therapeutics is headquartered
LocationHeadquarters
- HQ city
- Berkeley
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Carmot Therapeutics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations
Carmot Therapeutics product offering
Product offeringCore offering
Carmot Therapeutics is a clinical-stage biotechnology company that discovers and develops therapeutics for metabolic diseases, with a focus on obesity and type 2 diabetes. Its core offerings are three clinical-stage drug candidates — CT-388, CT-868, and CT-996 — built on the company's proprietary Chemotype Evolution discovery platform and biased-signaling approach to GLP-1 and GIP receptor agonism.
Product overview
Carmot Therapeutics is a biotechnology company developing a portfolio of metabolic disease therapies focused on gut hormone modulation. The company's pipeline consists of three clinical-stage drug candidates: CT-868/RG6641 (GLP-1/GIP Receptor Agonist, Phase 2) for overweight/obesity and type 1 diabetes; CT-388/RG6640 (once-weekly GLP-1/GIP injectable, Phase 1b) for obesity and type 2 diabetes; and CT-996/RG6652 (once-daily oral GLP-1 agonist, Phase 1) for obesity and type 2 diabetes. These assets leverage dual incretin receptor modulation and biased signaling technology to optimize therapeutic efficacy while minimizing receptor desensitization. The company was acquired by Roche in December 2023 for $2.7 billion.
Differentiator
Problem solved
Functional benefit
Brands
- CT-388: Once-weekly subcutaneous injectable, dual GLP-1/GIP receptor agonist being developed for the treatment of obesity and type 2 diabetes.
- CT-868
- CT-996
Products and services
- CT-388 (RG6640) CT-388 is a clinical-stage injectable peptide dual agonist of the GLP-1 and GIP receptors, developed for the treatment of obesity and type 2 diabetes. Following Roche's acquisition of Carmot, the asset is referred to as RG6640.
- CT-868 (RG6641) CT-868 is a clinical-stage injectable dual GLP-1/GIP receptor agonist being developed for metabolic diseases including obesity and diabetes. Renamed RG6641 under Roche following the acquisition.
- CT-996 (RG6652) CT-996 is a clinical-stage oral small-molecule GLP-1 receptor agonist for the treatment of obesity and type 2 diabetes. Renamed RG6652 under Roche following the acquisition, it represents a non-injectable incretin option in the pipeline.
Quantifiable outcome
- Roche's CT-388 showed approximately 23 percentage points more body weight loss than placebo after 48 weeks in Phase 2 trials
Companies that use Carmot Therapeutics
Customer profileSegments1 record
Ideal customer profiles2 records
Carmot Therapeutics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Carmot Therapeutics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- RocheflagshipRoche acquired Carmot Therapeutics for $2.7 billion in December 2023, gaining access to three clinical-stage assets with best-in-class potential in obesity and diabetes (CT-388, CT-868, CT-996) and the Chemotype Evolution discovery platform. This acquisition positioned Roche to enter the metabolic and obesity market projected to exceed $100 billion annually.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Carmot Therapeutics competitors and assessment
Company assessmentBroad incumbents
- Eli Lilly: Eli Lilly markets tirzepatide (Mounjaro/Zepbound), the leading GLP-1/GIP dual agonist in obesity and type 2 diabetes, directly competing with Carmot's CT-388 and CT-868 mechanism and setting the efficacy bar Carmot's biased-agonist design must surpass.
- Novo Nordisk: Novo Nordisk markets semaglutide (Ozempic/Wegovy) and is developing next-generation incretin therapies; it is the dominant incumbent in the GLP-1 obesity/diabetes market that Carmot's pipeline is targeting.
- Amgen: Amgen is developing MariTide (maridebart cafraglutide), a GLP-1/GIP receptor agonist for obesity, positioning it as a direct competitor to Carmot's CT-388 in the dual-incretin class.
- Pfizer: Pfizer is advancing oral GLP-1 candidates (e.g., danuglipron) for obesity and diabetes, directly competing with Carmot's CT-996 in the oral GLP-1 market segment.
Direct peers
- Viking Therapeutics: Viking Therapeutics is a clinical-stage biotech developing VK2735, a dual GLP-1/GIP receptor agonist for obesity, directly competing with Carmot's CT-388 in the dual-incretin class with overlapping mechanism and patient population.
- Structure Therapeutics: Structure Therapeutics is developing oral small-molecule GLP-1 receptor agonists (e.g., GSBR-1290), directly competing with Carmot's CT-996 in the oral GLP-1 space targeting obesity and type 2 diabetes.
- Zealand Pharma: Zealand Pharma develops peptide therapeutics for metabolic diseases, including petrelintide (amylin analog) and other incretin-based candidates, competing in the same obesity/metabolic disease space as Carmot's GLP-1/GIP portfolio.
Emerging players
- Altimmune: Altimmune is developing pemvidutide, a GLP-1/glucagon dual agonist for obesity, representing an emerging competitor in the next-generation incretin space where Carmot's platform also operates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
Carmot Therapeutics social profiles
Digital presenceCarmot Therapeutics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Carmot Therapeutics leadership team
Management profileNumber of profiles
Profiles1 record
Carmot Therapeutics funding detail
Funding detailFunding overview
Funding rounds8 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Carmot Therapeutics M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Carmot Therapeutics
What does Carmot Therapeutics do?
Carmot Therapeutics is a clinical-stage biotechnology company that discovers and develops therapeutics for metabolic diseases, with a focus on obesity and type 2 diabetes. Its core offerings are three clinical-stage drug candidates — CT-388, CT-868, and CT-996 — built on the company's proprietary Chemotype Evolution discovery platform and biased-signaling approach to GLP-1 and GIP receptor agonism.
Is Carmot Therapeutics a public or private company?
Carmot Therapeutics is a private company. It is classified as corporate owned and is currently acquired.
When was Carmot Therapeutics founded?
Carmot Therapeutics was founded in 2008. It employs 11 to 50 people.
Where is Carmot Therapeutics based?
Carmot Therapeutics is headquartered in Berkeley, United States, in the North America region.
Who are Carmot Therapeutics's main competitors?
Broad incumbents on record are Eli Lilly, Novo Nordisk, Amgen and Pfizer. Direct peers are Viking Therapeutics, Structure Therapeutics and Zealand Pharma. Altimmune is listed as an emerging player.
Does Carmot Therapeutics have an API?
No public API is recorded for Carmot Therapeutics.
What industry is Carmot Therapeutics in?
Carmot Therapeutics's product category is Metabolic Disease Therapeutics. Its primary akta.pro industry code is HLAIAAAE, Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity), with a secondary code of HLAAAAAH, Therapeutic Peptides & Protein/Peptide Biologics. Its NAICS code is 541714 and its SIC code is 2834.