Corxel draws $287M round to drive global development of oral GLP-1

A new $287 million round of funding is designed to propel Corxel’s oral GLP-1 therapy toward late-stage clinical testing as the cross-border biotech seeks to globalize a program that has shown promise in China-only clinical testing.

Corxel Pharmaceuticals (Shanghai) Co. Ltd. brought a host of crossover investors into the round, which it described as a series D-1; the deal follows a series D in 2024. Prior investor RTW Investments and Hengdian Group Capital joined first-time backers SR One, TCG X, RA Capital Management, HBM Healthcare Investments, SymBiosis, Adage Capital Management, Invus and SilverArc Capital...