Corxel raises $287 million in Series D1 financing

US clinical-stage biotech Corxel Pharmaceuticals, dedicated to developing innovative therapies for patients with cardiometabolic conditions around the world, today announced the successful completion of its Series D1 financing, raising up to $287 million in capital.

Proceeds from the round are expected to support the advancement of CX11, a differentiated oral small molecule GLP-1 RA for obese and overweight patients currently being evaluated in a Phase II trial conducted by Corxel in the USA and a Phase III trial conducted by Vincentage in China, and other cardiometabolic programs, including for acute ischemic stroke and hypertension.

Specifically, they will advance the lead program, CX11, through its ongoing US Phase II trial to treat obesity and overweight patients, its planned global Phase II trial to treat type 2 diabetes mellitus (T2DM) and initial preparations for CX11’s Phase III trials, and further strengthen the company’s global operational and development capabilities to support global multiregional clinical programs.