RTW Biotech Opportunities (RTW) has provided an update on private portfolio company Corxel Pharmaceuticals, its second-largest core holding as at 31 May 2025, representing 8.3% of NAV.
Corxel, a clinical-stage biopharma firm developing therapies for cardiometabolic diseases, recently announced two key developments relating to its lead candidate, CX11 – an investigational, once-daily oral GLP-1 receptor agonist targeting obesity and overweight.
On 17 June, Corxel confirmed the dosing of the first patient in a US phase 2 trial of CX11, which will evaluate efficacy and safety in an American patient population. The trial aims to minimise gastrointestinal side effects and explore a higher dose of CX11. Top-line data are expected in the first half of 2026.
Separately, on 21 June, Corxel and its Chinese partner Vincentage released positive results from a China-based phase 2 trial. CX11 delivered significantly greater weight loss than placebo across all doses, with 55% to 90% of participants achieving at least 5% weight reduction by week 16, compared with 13% for placebo. The drug also showed favourable effects on cardiometabolic measures, with no serious safety signals identified.
RTW’s CIO, Rod Wong, described the developments as “significant milestones” and said CX11 has the potential to offer a more accessible alternative to injectable GLP-1 therapies.
