China’s MicuRx Pharma secures $107m in Series E round

Source: Volodymyr Hryshchenko/Unsplash

Hong Kong-listed Chinese Legend Holdings’s venture capital unit Legend Capital has led a 700 million yuan ($107 million) Series E round funding in MicuRx Pharmaceuticals, Inc., a Chinese clinical-stage biopharma firm specialising in antimicrobial therapeutics, the investee said in a WeChat post on Monday. 

MicuRx attracted a slew of investors including China Merchants Group’s investment bank unit China Merchants Securities, Korea Investment Partners, Yingke PE, Founder Securities’ investment arm Founder H Fund, Zhongtai Ventures, and Detong Capital. 

The fresh proceeds will be used for new drug development, global clinical trials, pipeline advancement and drug commercialisation in China, the company said. 

MicuRx completed its $43-million Series D round in August 2020 led by Huagai Capital with the participation of Sinopharm-CICC and Zero2IPO Asset Management.

With dual headquarters in Shanghai and San Francisco Bay Area, MicuRx delivers clinical-stage antimicrobial agents for the treatments of multidrug-resistant infections.

MicuRx expects to commercialize its flagship drug candidate contezolid (MRX-I) – an antibacterial drug for complicated skin and soft tissue infections in 2021.

The company’s early backers include GP Healthcare Capital, 3E Bioventures, GP TMT Capital and others. 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.