Cooley Advised Corxel Pharmaceuticals on Business Combination Agreement with Amanat Acquisition Corp

Cooley advised Corxel Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing innovative oral therapies for obesity and related cardiometabolic conditions, on its definitive business combination agreement with Amanat Acquisition Corp., a publicly traded special purpose acquisition company. Upon completion of the proposed transaction, Corxel US will become a wholly owned subsidiary of the combined public company. The proposed business combination and concurrent PIPE are expected to provide approximately $377 million (prior to the payment of transaction costs and assuming no redemptions by Amanat’s shareholders) in gross proceeds to the combined company. The net proceeds from the proposed transaction are expected to support the company through 2029 and to fund the global Phase 3 development program for CX11 in obesity.

The transaction was announced publicly in this press release.

Div Gupta, Rama Padmanabhan, Lindsey O’Crump Crow, Minkyu Park, Ruomu Li, Will Cai, Mark Ballantyne, Michael Shen, and Susan Choy led the team advising Corxel Pharmaceuticals.

Alessandra Murata, Alexander Lee, Ariane Andrade, Helenanne Connolly, Sharon Connaughton, Rajdeep Bains, Brenna McGuire, Ama Zaniker-Gomez, Ben Shulman, John DelMastro, Virat Gupta, Hardy Zhou, Sean Ross, Shelby Saunders, and Jason Valentine provided invaluable support.

Cooley previously advised Corxel Pharmaceuticals on its Series D Financing in 2026.

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