MicuRx Snares ￥300M in Series D Funding Round

According to VCBeat, on August 5, 2020, MicuRx Pharmaceuticals, Inc. ("MicuRx") an antibacterial drug developer, announced that it had completed a Series D financing of nearly RMB300 million, led by Huagai Capital, with participation from Sinopharm Zhongjin Medical Industrial Fund and Zero2IPO Asset Management. The funds raised will be mainly used to promote the development and clinical researches of the pipeline, as well as the commercialization of the Chinese market. 

MicuRx is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of antimicrobial therapeutics for multidrug-resistant ("MDR") "superbug" infections. Since its inception in 2007, the scientists of MicuRx in the United States and China have built a pipeline of four antimicrobial drug candidates (contezolid (MRX-I), contezolid acefosamil (MRX-4), MRX-8, and MRX-10) intended to combat various pathogens on the WHO list of "superbugs".

MRX-I, the first product developed by MicuRx, is a novel, patented, potential next-generation antimicrobial agent which was discovered by its own scientists to address the common bone marrow toxicity of antimicrobial agents in the oxazolidinone class. Data from the pre-clinical and clinical studies in China, the United States, and Australia demonstrated that contezolid has the potential to treat severe MDR Gram-positive bacterial infections with an improved safety profile related to bone marrow toxicity.

After the first phase III clinical trial of MRX-I for complex skin and soft tissue infections, MicuRx submitted the new drug application (NDA) in China in late 2019 and has been granted priority review qualification by the National Medical Products Administration (NMPA). MicuRx will set up an efficient and professional team to promote the independent commercialization of MRX-I.

Founded in 2012 and headquartered in Beijing, Huagai Capital is a private equity investment firm that invests in start-up or growth companies in the areas of healthcare, TMT, and culture.

Zero2IPO Asset Management provides industrial strategy and medium & long-term asset management investment services for listed companies and family enterprises. Currently, it has managed dozens of strategic funds and family funds of listed companies over 20 billion yuan, mainly investing in growth-stage companies in healthcare, consumption upgrading, intelligent manufacturing, culture and entertainment, education and other fields.