Corxel Pharmaceuticals has raised $287m to fund its suite of cardiometabolic assets, signifying that investor appetite for weight loss drug pipelines is showing no signs of slowing.
China-headquartered Corxel secured the tranche in a Series D1 financing round, with SR One, TCGX, and RA Capital Management, among others, joining as new investors. Existing investors, RTW Investments and Hengdian Group Capital, also participated.
Proceeds from the round will support the development of the biopharma’s lead candidate CX11, an oral glucagon-like peptide-1 receptor agonist (GLP-1RA). The pill is currently being evaluated in a Phase II trial in the US (NCT07011797) and a Phase III trial (NCT06939296) in China in obese and overweight patients.
Corxel is conducting the US study, while Vincentage is overseeing the trial in China. Corxel licensed worldwide rights, excluding China, for CX11 from Chinese biotech Vincentage in late 2024.
Phase II data, reported at the 85th American Diabetes Association (ADA) Scientific Sessions in June 2025, demonstrated that CX11 helped patients lose 9.7% of their body weight in 16 weeks when administered as a fast titration at the highest dose.
Outlining the use of the Series D1 proceeds in more detail, Corxel said that the funds will support the ongoing US trial, as well as a planned Phase II trial in patients with type 2 diabetes (NCT07340320). Initial preparations for CX11’s Phase III trials will also be invested in.
Apart from CX11, Corxel will fund additional programmes through clinical development. This includes JX10, a pro-thrombolytic and anti-inflammatory drug for acute ischemic stroke, and JX09, an aldosterone synthase inhibitor for hypertension.
Corxel’s CEO, Sandy Mou, 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.”
With a sizeable Series D1 raise, Corxel follows in the footsteps of other obesity-focused biotechs attracting large investments in recent months. In October 2025, Kailera secured $600m in a Series B round to fund a Phase III trial of injectable dual GLP-1/GIP receptor agonist KAI-9531. Metsera, a developer of long-lasting weight loss therapies, generated over $500m in funding in just seven months in 2024. The biotech was eventually acquired by Pfizer in a $10bn deal after a bidding war with Novo Nordisk.
The obesity market across the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK, and Japan) is forecast to reach $173.5bn by 2031, as per GlobalData analysis.
GlobalData is the parent company of Pharmaceutical Technology.
Weight loss therapies have become some of the most lucrative revenue generators for pharma companies in recent years. Eli Lilly and Novo Nordisk currently dominate the global market with tirzepatide and semaglutide brands, respectively. In December 2025, Novo won the first US approval for an oral GLP-1RA indicated for weight loss.
