Foley & Lardner LLP represented TCGX Crossover (TCGX) as an investor in the $287 million Series D1 financing for CORXEL, a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for patients with cardiometabolic conditions around the world.
In addition to TCGX, the round included new investors, including SR One, RA Capital Management, HBM Healthcare Investments, SymBiosis, Adage Capital Management, Invus, and SilverArc Capital, as well as existing investors RTW Investments and Hengdian Group Capital.
CORXEL is led by an experienced management team that has a strong track record of identifying, in-licensing, and developing attractive clinical product candidates directed at validated targets with proven mechanisms of action. CORXEL’s diverse portfolio of clinical-stage product candidates has the potential to redefine treatment standards and address key limitations of current therapies for multiple cardiometabolic indications.
TCGX is an investment firm focused on innovative biotech companies. They invest in visionary entrepreneurs leveraging recent scientific breakthroughs to develop transformative medicines. With offices in Palo Alto, San Francisco, and New York City, TCGX has global capabilities and has supported companies in North America, Europe, and China.
Proceeds from this round are expected to support the advancement of CX11, an oral small molecule GLP-1 receptor agonist, across ongoing U.S. and planned global Phase 2 trials, as well as to advance additional cardiometabolic programs.
The Foley team was led by partner Louis Lehot and included associates Saige Gallop and Sarina Rogers.