What CORXEL Pharmaceuticals does

CORXEL Pharmaceuticals is a clinical-stage biopharmaceutical company founded in 2019 by RTW Investments and headquartered in Berkeley Heights, New Jersey, with additional offices in Hong Kong, Shanghai, and Beijing. The company is focused exclusively on developing innovative cardiometabolic therapies for patients with obesity, type 2 diabetes, and acute ischemic stroke, operating a global development model that runs parallel clinical trials in the United States, China, and Europe to accelerate enrollment and leverage regionally diverse patient populations.

CORXEL's pipeline is built around three global cardiometabolic assets. CX11 (also known as VCT220) is an oral once-daily small-molecule GLP-1 receptor agonist in Phase 2 development for obesity, overweight, and type 2 diabetes; Phase 2 U.S. data showed up to 11.5% weight loss at 36 weeks with favorable GI tolerability and no hepatic safety signal across more than 1,500 participants, while a Vincentage-conducted China Phase 3 trial delivered -12.2% to -12.4% weight reduction at 52 weeks. JX10 (formerly BIIB131) is a plasminogen modulator with pro-thrombolytic and anti-inflammatory activity in a global registrational Phase 2/3 trial (ORION) for acute ischemic stroke, designed to extend the treatment window to up to 24 hours versus the standard 4.5-hour t-PA window. CX12 is an oral small-molecule amylin receptor agonist in preclinical development for obesity, with the potential advantage of oral dosing, no cold-chain storage, and combination use with GLP-1 therapy. Earlier non-core assets (etripamil/CARDAMYST and LNZ100/VIZZ) were divested to Everest Medicines in 2026 to focus resources on cardiometabolic indications.

The business model combines in-house global clinical development with a regional licensing and partnership model for commercialization. CORXEL holds global (ex-Greater China) rights to CX11 and global (ex-Japan) rights to JX10, and monetizes regional rights through upfront payments, development and regulatory milestones, and royalties from partners such as Everest Medicines, Bayer, Milestone Pharmaceuticals, LENZ Therapeutics, and Vincentage Pharma. Revenue to date consists of episodic license-related inflows (e.g., the $30 million upfront from Everest Medicines for CARDAMYST) and strategic equity (Bayer's $35 million investment in January 2024), with the company having raised approximately $487 million or more in private capital, including a $287 million Series D1 financing in January 2026. CORXEL is pre-revenue from product sales and depends on continued capital markets access and licensing proceeds to fund Phase 3 development.

Name

CORXEL Pharmaceuticals

Legal name

Corxel Pharmaceuticals (Shanghai) Co., Ltd.

Website

https://corxelbio.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

CORXEL Pharmaceuticals is a clinical-stage biopharmaceutical company developing oral small-molecule therapies for cardiometabolic diseases, including obesity, type 2 diabetes, and acute ischemic stroke, with global operations in the US, China, and Europe.

Ownership category

akta.pro rank

Product category

Cardiometabolic Therapeutics

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Cardiology & Vascular Specialty Pharmaceuticals (HLAIACAG)

Keywords

• Clinical-stage biopharmaceuticals
• Cardiometabolic drug development
• Oral small molecule therapeutics
• GLP-1 receptor agonists
• Global clinical trials

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Licensing and Milestone Revenue: CORXEL generates revenue through licensing agreements with regional partners, receiving upfront payments, development and regulatory milestones, and sales-based royalties. Examples include: $30M upfront from Everest Medicines for CARDAMYST Greater China rights plus up to $20M milestones; potential $85M in regulatory and sales milestones from LENZ Therapeutics for LNZ100 Greater China.
2. Future Product Sales: As a clinical-stage biopharma company, CORXEL does not currently generate product revenue. The company is developing CX11, JX10, and CX12 for global markets, with anticipated future revenue from product sales pending regulatory approvals.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

CORXEL Pharmaceuticals is a clinical-stage biopharmaceutical company that develops innovative small-molecule cardiometabolic therapies targeting obesity, Type 2 Diabetes Mellitus, acute ischemic stroke, and hypertension. Its pipeline includes CX11 (VCT220), an oral once-daily GLP-1 receptor agonist; JX10, a plasminogen modulator for acute ischemic stroke; CX12, an oral amylin receptor agonist; and JX09, a selective aldosterone synthase inhibitor. The company operates through in-licensing and internal development, generating revenue via regional licensing deals with strategic partners.

Product overview

CORXEL is a clinical-stage biopharmaceutical company developing a portfolio of cardiometabolic therapies. The company's pipeline consists of three global cardiometabolic assets: CX11 (VCT220), an oral small molecule GLP-1 receptor agonist in Phase 2 clinical trials for obesity and type 2 diabetes; JX10, a thrombolytic and anti-inflammatory agent in global Phase 2/3 registrational trial for acute ischemic stroke; and CX12, an oral small molecule amylin receptor agonist in preclinical development for obesity. CORXEL operates with global rights to these assets, having acquired CX11 and JX10 from partners Vincentage Pharma and Biogen respectively, while developing CX12 internally.

Differentiator

Problem solved

Functional benefit

Products and services

• CX11 (VCT220) An investigational oral once-daily small molecule GLP-1 receptor agonist (GLP-1 RA) designed to treat obesity, overweight conditions, and Type 2 Diabetes Mellitus. CX11 aims to offer weight reduction comparable to injectable GLP-1 RAs with the convenience of oral dosing, favorable GI tolerability, scalability, and accessibility as a small molecule product candidate.
• JX10 (formerly BIIB131) An investigational plasminogen modulator with pro-thrombolytic, anti-inflammatory, and antioxidative activities for the treatment of acute ischemic stroke (AIS). JX10 extends the treatment window up to 24 hours from last known well (LKW), beyond the standard 4.5-hour t-PA window.
• CX12 An oral small molecule amylin receptor agonist in preclinical development for obesity treatment. CX12 regulates satiety, slows gastric emptying, and suppresses post-prandial glucagon, with potential synergistic effects when combined with GLP-1 receptor activation. Advantages include convenient dosing, improved adherence, no cold-chain storage, and lower manufacturing costs versus peptide-based amylin agonists.
• JX09

Quantifiable outcome

• CX11 achieved up to 11.5% weight loss at 36 weeks in U.S. Phase 2 trial (246 patients), with continued weight reduction and no evidence of plateau. Placebo-adjusted weight loss data pending. No hepatic safety signal observed across >1,500 total participants.
• +4 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Everest MedicinescoreStrategic or Co-development Partner · 8 June 2026Everest Medicines acquired Greater China rights to LNZ100 (aceclidine, U.S. brand VIZZ) for presbyopia treatment from CORXEL. LNZ100 was submitted to China's NMPA in September 2025, with approval anticipated in Q1 2027. LENZ Therapeutics is eligible to receive up to $85M in remaining regulatory and sales milestones plus tiered royalties on net sales.
• Everest MedicinescoreStrategic or Co-development Partner · 23 March 2026CORXEL entered into an Asset Purchase Agreement with Everest Medicines (HKEX 1952.HK) for CARDAMYST (etripamil) nasal spray in Greater China. Everest paid an upfront of $30M plus potential milestones up to $20M. Everest acquired the rights to develop, manufacture, and commercialize CARDAMYST for PSVT in Chinese mainland, Hong Kong, Macao, and Taiwan. The NDA for etripamil was accepted by NMPA in January 2025, with expected approval in Q3 2026. Separately in June 2026, Everest also acquired LNZ100/VIZZ (presbyopia) Greater China rights from CORXEL.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Novo Nordisk: Global leader in diabetes/obesity with Ozempic/Wegovy (semaglutide) injectable franchise and Rybelsus (oral semaglutide) already on market. Defines the cardiometabolic competitive landscape and the standard CORXEL's oral GLP-1 must match or exceed.
• Eli Lilly: Global pharmaceutical leader with Mounjaro/Zepbound (tirzepatide) injectable GLP-1 franchise and oral orforglipron in Phase 3. Represents the dominant commercial benchmark in cardiometabolic/obesity and the primary competitor CORXEL must displace or differentiate against in oral GLP-1.
• Pfizer: Large pharmaceutical company with prior oral GLP-1 program (danuglipron) and ongoing cardiometabolic pipeline. Represents a major incumbent competitor with substantial resources to compete in oral GLP-1 and broader cardiometabolic space.
• Hansoh Pharmaceutical: China-based pharmaceutical company with established cardiometabolic franchise and pipeline. Comparable China-headquartered biopharma with broader cardiometabolic presence; potential regional partner or competitor to CORXEL in China market.

Regional players

• Sciwind Biosciences: China-based clinical-stage biopharma developing innovative long-acting GLP-1 RA (ecnoglutide) for obesity and diabetes. Comparable China-based clinical-stage company with cardiometabolic focus and similar regulatory pathways in China.
• Innovent Biologics: China-based biopharma developing mazdutide (GLP-1/glucagon dual agonist) and broader cardiometabolic pipeline. Comparable to CORXEL in cardiometabolic focus and China operational footprint, though primarily biologics-based approach.
• Akeso: China-based biopharmaceutical company with GLP-1 receptor agonist (eenozumab) and broader cardiometabolic biologics pipeline. Comparable China-based clinical-stage biopharma with global ambitions and cardiometabolic focus.

Direct peers

• Terns Pharmaceuticals: Clinical-stage biopharma developing oral small molecule GLP-1 receptor agonist (TERN-601) for obesity. Direct competitor in oral GLP-1 space with similar cardiometabolic focus; cross-border US/China operations comparable to CORXEL.
• Structure Therapeutics: Clinical-stage biopharma developing oral small molecule GLP-1 receptor agonists (GSBR-1290) for obesity and T2DM. Most directly comparable to CORXEL's CX11 with similar oral small molecule approach and cardiometabolic focus, competing head-to-head in the same oral GLP-1 development race.

Emerging players

• Madrigal Pharmaceuticals: Cardiometabolic-focused biopharma with Rezdiffra (resmetirom) FDA-approved for MASH/NASH. Comparable clinical-stage-to-commercial cardiometabolic biotech that successfully navigated late-stage clinical and regulatory pathways.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/corxel-pharmaceuticals

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds4 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CORXEL Pharmaceuticals