Corxel Pharmaceuticals has raised $287 million in Series D funding to support phase 2 and phase 3 studies of its oral GLP-1 receptor agonist for obesity treatment.
Background on CX11 and Licensing Deal
Shanghai-based Corxel licensed ex-China rights to CX11 from Vincentage in late 2024. This oral GLP-1 drug targets obesity and related conditions.
Promising Phase 2 Data from China
At a medical conference last June, data from Vincentage's phase 2 trial in China showed high titration of the highest CX11 dose led to a 9.7% reduction in body weight at 16 weeks.
Ongoing and Planned Clinical Trials
- Vincentage launched a phase 3 study of CX11 in China.
- Corxel is conducting a phase 2 trial in the U.S. for patients with overweight and obesity.
- New funding enables a global phase 2 study in type 2 diabetes patients and Corxel's own phase 3 trials.
Additional Pipeline Support
Funds will also advance other clinical-stage assets:
- JX10: Pro-thrombolytic and anti-inflammatory drug for acute ischemic stroke.
- JX09: Aldosterone synthase inhibitor for hypertension.
Investor Confidence and Leadership
Returning investors RTW Investments and Hengdian Group Capital joined new backers including SR One, TCGX, RA Capital Management, HBM Healthcare Investments, and SymBiosis.
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Roderick Wong, managing partner and CIO at RTW, praised Corxel's "clinical progress, disciplined execution and seasoned leadership team."
Corxel CEO Sandy Mou called the round "one of the most significant milestones," enabling accelerated global development of cardiometabolic therapies.
Company History
Founded in 2019 as JiXing, Corxel previously developed Cytokinetics' cardiac myosin inhibitor aficamten in China before selling rights to Sanofi in 2024. Sanofi gained approval in China last year, and the FDA approved it as Myqorzo for hypertrophic cardiomyopathy last month.
Recent Obesity Drug Landscape
The obesity field remains active. Novo Nordisk received approval for oral Wegovy. Novartis invested $100 million to bolster patents for an oral GLP-1 drug from Carmot Therapeutics. MetaVia reported 9.1% average weight loss with its GLP-1/glucagon dual agonist.