Corxel US agreed to merge with Amanat Acquisition Corp in a roughly $377 million deal to fund its oral obesity pipeline, including CX11. The transaction combines cash in Amanat’s trust account with an oversubscribed PIPE, positioning Corxel US to advance its small-molecule, once-daily GLP-1 receptor agonist through pivotal Phase III trials. CX11 data cited in the report show body-weight reduction of up to 11.5% at week 36 in a US Phase II study (NCT07011797), with nausea rates reported in the low-to-mid 30% range and a 5% discontinuation rate tied to GI side effects. The company has also cleared an end-of-Phase II meeting with the FDA and is preparing for global pivotal testing. The deal keeps Corxel HK and its stroke-focused asset JX10 carved out, with a new corporate name and ticker planned for the combined public entity. Management says proceeds are expected to carry the program through 2029, with the majority funding CX11’s global Phase III work. For investors and obesity-industry watchers, the structure highlights continued capital-market interest in oral GLP-1 approaches despite intense competition in the injectable space.