The capital injection allows Corxel to push its lead candidate, the once-daily GLP-1 oral pill CX11, into global phase 3 trials. This progression follows a successful alignment with the Food and Drug Administration regarding study protocols. Researchers are currently conducting a phase 1b study to evaluate higher doses of the drug, with additional clinical data anticipated in the first half of next year.

Beyond its primary obesity treatment, the company is developing CX12, an investigational oral small-molecule amylin receptor agonist. The merger agreement covers only Corxel US and its obesity-focused portfolio; the company’s assets held in Hong Kong, including JX10, remain independent and private. The transaction is slated to close in the first half of 2027.