Corxel Heads to Nasdaq via SPAC With Oral GLP-1 and $300M Backing
- Corxel will list in the US by merging with SPAC Amanat Acquisition Corp., alongside a $300 million private investment.
- The listed company will carry two obesity assets: CX11, an oral GLP-1 in-licensed from China's Vincentage, and a preclinical amylin candidate.
- A global Phase 3 for CX11 could begin as early as Q1 2027; its non-obesity assets stay in a private parent.
💡 Points
Two listed assets, but only CX11 is heading toward Phase 3; the amylin candidate is still preclinical, so this is essentially a single-molecule story. Ring-fencing non-obesity assets in a private parent signals a deliberate pivot to a pure obesity identity, and it shows China-sourced in-licensing is now a route to a US listing, not just to pharma partnerships.