Corxel Group to go public in US by merging with SPAC, targeting oral GLP-1 market

Corxel Group announced that it will become a publicly traded company in the United States through a merger with a special purpose acquisition company. The move follows a similar SPAC transaction by another drug developer the previous week, suggesting renewed interest in this financing route.

The company plans to use the public listing to fund development of its oral GLP-1 therapy, a class of drugs typically administered by injection. By offering an oral formulation, Corxel hopes to differentiate its product in a crowded market.

Industry observers note that SPACs had fallen out of favor but are now seeing renewed activity as biotech firms seek faster access to capital. The transaction is expected to close later this year, subject to regulatory approval.