Amanat agrees to take Corxel’s US obesity business public with major PIPE backing

Amanat Acquisition ($AMAN) agreed to combine with Corxel Pharmaceuticals’ US business, creating a public company focused on oral obesity treatments. The transaction includes approximately $300 million of private investment commitments and is expected to provide about $377 million in gross proceeds before costs, assuming no Amanat shareholder redemptions. Certain PIPE investors may reduce their subscriptions by purchasing and retaining existing Amanat shares.

Management expects the financing to support operations through 2029, including a planned global Phase 3 program for oral GLP-1 candidate CX11. That runway is a projection, and the drug remains investigational. Completion is expected in the first half of 2027, subject to shareholder, regulatory and other conditions. The agreement covers Corxel’s US business; it does not bring the group’s separate Hong Kong stroke-drug business into the combination.

Sources:

• GlobeNewswire