Corxel Pharmaceuticals completes $287 million Series D1 financing to develop oral small-molecule GLP-1 RA

On January 22, Corxel Pharmaceuticals announced the successful completion of its Series D1 financing, raising $287 million. The proceeds from this round of financing will be primarily used to advance the development of its investigational pipeline asset, CX11.

Its pipeline includes CX11, a differentiated oral small molecule GLP-1 RA for obese and overweight patients currently being evaluated in a Phase 2 trial conducted by Corxel in the United States and a Phase 3 trial conducted by Vincentage in China, and other cardiometabolic programs, including for acute ischemic stroke and hypertension.

The proceeds of this round of fundraising will be used for:

• Advance the lead program, CX11, through its ongoing U.S. Phase 2 trial to treat obesity and overweight patients, its planned global Phase 2 trial to treat Type 2 Diabetes Mellitus (T2DM) and initial preparations for CX11's Phase 3 trials; 

  
  

• Advance the Corxel's additional programs through clinical development; 

  
  

• Further strengthen Corxel's global operational and development capabilities to support global multiregional clinical programs.