Corxel will use the fundraising proceeds to advance the oral GLP-1 therapy CX11 through mid-stage development in the U.S., as well as prepare for its Phase III studies.
Corxel Pharmaceuticals has brought in $287 million from its series D1 fundraising push, giving it enough money to advance its oral GLP-1 drug CX11, among other pipeline candidates.
In particular, Corxel, which has offices in New Jersey, Hong Kong, Shanghai and Beijing, will use the proceeds to complete Phase II testing for CX11 in the U.S. for patients with overweight and obesity. The biotech is also planning to run mid-stage studies for the drug in type 2 diabetes.
Funds from the series D1 raise will likewise help Corxel prepare for CX11’s Phase III studies, according to a news release on Thursday.
Designed to be taken daily, CX11 is a GLP-1 receptor agonist, acting similarly to the blockbuster weight-loss therapies Wegovy and Zepbound. On its website, Corxel claims that CX11 can match the efficacy of injectable GLP-1s.
CX11 is also in Phase III testing in China, being overseen by Chengdu-based Vincentage.
Aside from advancing CX11, Corxel will put some of Thursday’s series D haul behind its other programs to usher them through clinical development. The biotech is also working on the plasminogen modulator JX10 for acute ischemic stroke and the aldosterone synthase inhibitor JX09 for hypertension.
With its recent capital infusion, Corxel surges forward in the increasingly crowded rush to develop an oral obesity drug. Novo Nordisk currently leads the pack with the FDA’s approval of an oral version of Wegovy last month. The pill launched earlier this month and, in its first week on the market, reached nearly 3,100 patients.
Hot on Novo’s heels, however, is fellow industry leader Eli Lilly, which is anticipating a regulatory verdict for its oral drug orforglipron in the coming months.
Corxel also joins the frenzy of fundraising initiatives that has marked the beginning of 2026. On Jan. 8, a flurry of biotechs announced their respective efforts, led by Parabilis Medicines, which brought in $305 million in a series F round to advance its peptide therapy zolucatetide for solid tumors. Other companies in this push included Alveus Therapeutics, Sanofi-supported Diagonal Therapeutics and Johnson & Johnson-backed EpiBiologics.
