CORXEL has completed a Series D1 financing of up to $287 million to advance its cardiometabolic pipeline, including CX11, an oral small molecule GLP-1 receptor agonist being evaluated in clinical trials for obesity and metabolic diseases.

The round included participation from global healthcare investors including RTW Investments, SR One Capital Management, TCG Crossover, RA Capital Management, HBM Healthcare Investments and SymBiosis, alongside additional new and existing investors.

Proceeds are expected to support the ongoing Phase 2 trial of CX11 in obesity and overweight patients in the United States, a planned global Phase 2 trial in Type 2 diabetes mellitus, and preparations for Phase 3 development. The company said funds will also be used to advance additional cardiometabolic programmes, including in acute ischemic stroke and hypertension, and to strengthen global development and operational capabilities.

Sandy Mou, board executive director and ceo of the company, said: “This investment is one of the most significant milestones for CORXEL since its founding as it not only fuels our effort to accelerate the global development of industry-leading therapies against cardiometabolic diseases but also propels the company to a new orbit of growth. We are grateful to our existing and new investors for their confidence in CORXEL and its future, and our conviction to drive the company’s ascension to a significant global biopharmaceutical company is stronger than ever.”

RTW Investments participated as an existing investor, alongside Hengdian Group Capital, with additional new investors including Adage Capital Management, Invus and SilverArc Capital. The financing also includes the appointment of new board representatives from SR One, TCGX and other investors.

Roderick Wong, managing partner and chief investment officer at RTW Investments, said: “RTW is committed to powering the next generation of breakthroughs in science and medicine to help transform lives. We believe CORXEL’s clinical progress, disciplined execution, and seasoned leadership team position the company for important near-term catalysts and sustained long-term value creation. We are excited to support their journey toward becoming a leading biotech in the field of cardiometabolic disorders.”

CX11 is being developed as an oral small molecule GLP-1 receptor agonist, a class of drugs that has gained significant attention for obesity and metabolic disease. The company stated that CX11 is being evaluated in a Phase 2 trial in the United States and in a Phase 3 trial in China conducted by Vincentage, though detailed clinical data were not disclosed in the announcement.

The financing represents a corporate and pipeline development milestone rather than a clinical efficacy update. Further clinical data will be required to determine the safety, efficacy and differentiation of CX11 compared with existing GLP-1 therapies.