Corxel completes $287 million Series D-1 financing

Summary by AI BETAClose X

RTW Biotech Opportunities Ltd announced that its private portfolio company, Corxel Pharmaceuticals Limited, has successfully completed a $287 million Series D-1 financing round. This represents RTW Bio's largest private investment to date, with RTW Bio converting its convertible notes into Series D-1 shares, resulting in a pro-forma holding valued at $53.9 million. The proceeds will fund Corxel's lead program, CX11, an oral GLP-1 receptor agonist, through its ongoing Phase 2 trials for obesity and overweight patients, and support planned trials for Type 2 Diabetes Mellitus and initial Phase 3 preparations.

Disclaimer*

UK 100

Latest directors dealings