Corxel’s latest funding round lands at a time when U.S. and European drug developers are increasingly sourcing new medicines from China. Over the past few years, both large pharmaceutical companies and venture-backed biotech firms have shown a willingness to license compounds discovered in Chinese labs and move them quickly into Western clinical programs.
That strategy is no longer theoretical. Venture investors point to past wins, including the 2023 sale of asthma-focused Aiolos Bio in a deal valued at roughly $1 billion. Since then, several startups built around China-origin assets have emerged, using a similar playbook.
Obesity Drugs Sit at the Center of Investor Interest
Weight loss treatments have become one of the most competitive areas in biopharma, and many of the China-licensed assets are aimed squarely at that market. Startups such as Kailera Therapeutics and Verdiva Bio were formed around obesity drugs first developed in China, while larger players including Regeneron Pharmaceuticals and Merck & Co. have licensed comparable programs.
A recurring theme is oral GLP-1 drugs. These pills are seen as a way to expand access beyond injections and potentially improve long-term adherence, which remains a challenge for existing therapies.
CX11 Positions Corxel in the Oral GLP-1 Race
Corxel is pitching its lead asset, CX11, as an oral GLP-1 therapy that could deliver weight loss similar to injectable drugs. The company has described the candidate as differentiated, and clinical trial records suggest mid-stage data from U.S. studies could arrive within the coming months.
Interest in oral GLP-1s appears to be real. The FDA approved an oral version of Wegovy recently, and early prescription data point to a strong launch. Eli Lilly is also expected to bring an oral GLP-1 product to market, which could further validate the category.
Investors Back the Next Phase of Growth
The Series D1 round drew participation from well-known life sciences investors including SR One, TCGX, and RA Capital Management. Existing backers RTW Investments and Hengdian Group Capital also took part.
Chief executive Sandy Mou said the financing gives Corxel the resources to push its cardiometabolic pipeline forward globally and marks an important step in the company’s evolution.
Background and Prior Deal Activity
Founded in 2019 by RTW, Corxel operates in China under the name Ji Xing Pharmaceuticals. The company is not new to deal-making. It previously licensed partial rights to a cardiovascular drug from Cytokinetics, which were later sold to Sanofi in 2024.
