Carmot Therapeutics

Executive Summary

Carmot Therapeutics is a clinical-stage biotechnology company pioneering novel small molecule therapeutics for metabolic diseases and oncology. Headquartered in Berkeley, California, and founded in 2008, the company leverages its proprietary Chemotype Evolution platform to identify and optimize drug candidates. Its lead programs focus on incretin biology, targeting diabetes and obesity—a high-demand area given the global prevalence of these conditions. Carmot has raised $150 million in funding, positioning it well to advance its pipeline through clinical development.

Upcoming Catalysts (preview)

• H2 2026Phase 2 data readout for lead incretin program in obesity70% success
• 2026Potential partnership or licensing deal for metabolic pipeline60% success
• 2026Initiation of Phase 2/3 trial for diabetes candidate75% success