Obesity drug developer Corxel to go public in US via SPAC deal
AMAN•Corxel Pharmaceuticals will go public through a merger with Amanat Acquisition Corp. The deal is expected to provide roughly $377 million, including $300 million committed by institutional investors, and is anticipated to close in the first half of 2027.
1. SPAC merger terms
Corxel Pharmaceuticals will merge with Amanat Acquisition Corp. to go public in the US. Corxel is expected to receive roughly $377 million from the deal and a concurrent private investment in public equity, with institutional investors committing $300 million.
2. Drug development and timing
Corxel is advancing oral drug candidates, including lead candidate CX11 for obesity, type 2 diabetes and related cardiometabolic conditions. Work is ongoing to advance CX11 into late-stage development. The deal is anticipated to close in the first half of 2027, and the combined company will likely list on Nasdaq.
