Carmot Therapeutics

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.

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

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

• Metabolic disease therapeutics
• GLP-1 receptor agonists
• Obesity drug development
• Diabetes treatment pipeline
• Incretin receptor modulators

Headquarters

HQ city

Berkeley

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations

Core 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

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• RocheflagshipStrategic or Co-development Partner · 4 December 2023Roche 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

Broad 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

• Xx.com/CarmotTx
• LinkedInlinkedin.com/company/carmot-therapeutics-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds8 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carmot Therapeutics