Corxel, an obesity drugmaker, to go public via SPAC deal

Corxel plans to go public through a merger with the U.S. SPAC Amanat Acquisition Corp. and has secured $300 million in private financing to advance CX11 into late-stage development. The deal centers on CX11, an oral GLP-1 drug licensed from Vincentage Pharma, and a preclinical obesity candidate targeting amylin. JX10, an acute ischemic stroke drug licensed from Biogen, is excluded and will remain with the privately held parent company.