Corxel Raises $287 Million to Advance Cardiometabolic Drug Pipeline

Corxel Pharmaceuticals Limited (CORXEL), a clinical-stage biopharmaceutical company focused on cardiometabolic diseases, has announced the successful completion of its Series D1 financing round, securing up to $287 million in new capital. The funding marks a major milestone for the company as it accelerates the global development of its lead and pipeline programs targeting obesity, diabetes, and other serious cardiometabolic conditions.

According to the company, the proceeds from the Series D1 round will primarily support the advancement of CX11, an oral small-molecule GLP-1 receptor agonist being developed for obese and overweight patients. CX11 is currently under evaluation in a Phase 2 clinical trial in the United States conducted by CORXEL, alongside a Phase 3 trial in China led by Vincentage. In addition to obesity and overweight indications, CORXEL plans to explore CX11’s potential in treating Type 2 Diabetes Mellitus (T2DM) through a planned global Phase 2 trial, as well as to begin preparations for future Phase 3 studies.

Beyond CX11, the financing will also be used to advance CORXEL’s broader cardiometabolic pipeline, which includes programs targeting acute ischemic stroke and hypertension. The company stated that part of the capital will be allocated toward strengthening its global operational and development capabilities, enabling the execution of multiregional clinical trials and supporting long-term growth.

The Series D1 round attracted a strong group of new institutional investors, including SR One, TCGX, RA Capital Management, HBM Healthcare Investments, SymBiosis, Adage Capital Management, Invus, and SilverArc Capital, among others. Existing investors RTW Investments and Hengdian Group Capital also participated in the round, signaling continued confidence in CORXEL’s scientific strategy, clinical execution, and leadership.

“This investment is one of the most significant milestones for CORXEL since its founding,” said Sandy Mou, Board Executive Director and Chief Executive Officer of CORXEL. Mou noted that the financing would help accelerate the company’s ambition to develop industry-leading therapies for cardiometabolic diseases and propel CORXEL into a new phase of growth as a global biopharmaceutical company.

RTW Investments Managing Partner and Chief Investment Officer Roderick Wong highlighted CORXEL’s progress and leadership as key drivers behind the firm’s continued support. He emphasized the company’s potential for near-term clinical milestones and long-term value creation in the rapidly evolving cardiometabolic space.

As part of the financing, SR One, TCGX, and other participating investors will appoint three new representatives to CORXEL’s Board of Directors, further strengthening the company’s governance as it advances toward its next stage of development.