Corxel Pharmaceuticals, a China-based biotech firm, has successfully closed a $287 million Series D1 financing round. This significant milestone will fuel the global development of its cardiometabolic pipeline, with a primary focus on the clinical progression of its lead candidate, CX11.
CX11: A strong contender in the obesity market
CX11 is an oral small-molecule glucagon-like peptide-1 (GLP-1) receptor agonist designed for once-daily administration. It offers several strategic advantages over currently popular injectable treatments like Wegovy and Ozempic:
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Convenience and Accessibility: The oral formulation eliminates the need for injections, improving patient adherence.
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Manufacturing Efficiency: As a small molecule, it potentially offers lower manufacturing costs compared to injectable biologics.
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Clinical Efficacy: Positive Phase II results in the U.S. demonstrated that patients treated with CX11 achieved a 9.4% to 9.7% weight reduction from baseline after only 16 weeks.
Global development roadmap
Currently, CX11 (formerly known as VCT220) is undergoing evaluation in a Phase II trial in the U.S. and a Phase III trial in China. Following the acquisition of global commercialization rights from Vincentage in late 2024, Corxel has successfully expanded its cardiometabolic portfolio into the obesity and diabetes sectors, aiming for a potential best-in-class status.
Sandy Mou, CEO of Corxel, stated that this investment represents the company’s most significant milestone since its founding, propelling Corxel into a new orbit of growth as it seeks to deliver innovative oral GLP-1 molecules to patients worldwide.
Source: https://www.bioxconomy.com/investment/corxel-advances-oral-glp-1-therapy-with-287m-investment