China: Vision Plus leads $30m round in Etong Healthcare; MicuRx closes private financing deal

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Healthtech companies Etong Healthcare and MicuRx Pharmaceuticals Inc have raised fresh capital in separate financing deals.

Vision Plus Capital leads $30m financing in Etong Healthcare

Hangzhou-based venture capital firm Vision Plus Capital has led a $30 million (RMB200 million) series B round in Etong Healthcare, a third-party health examination service provider.

Morningside Venture Capital and Chinese conglomerate Dalian Yifang Group Co Ltd also participated in the round, the China Money Network reported.

Founded in 2007, Etong Healthcare is part of health management service company Etongonline Shanghai Medical Consulting Co Ltd.

Through its three platforms, the company connects patients with hospitals for physical checkup booking and services, caters to patients who need a checkups overseas, and enables individual patients to connect with doctors online for inquiries.

Etong Healthcare plans to use its fresh capital to expand its customized checkup services. The healthtech firm claims to have partnered with more than 1,200 healthcare institutions, including 635 public hospitals.

In 2015, Ethong Healthcare reportedly raised thousands of RMB in a Series A round from Cenova Capital and Shenzhen-listed Winning Health Technology Group Co Ltd.

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MicuRx closes private financing deal

China-US biopharmaceutical company MicuRx Pharmaceuticals Inc has raised up to $890,000 (Y100 million) in a private financing deal led by Chinese affiliates of existing MicuRx investors Delian Capital, and BVCF.

MicuRx president and CEO Zhengyu Yuan, PhD, said the additional funding will hasten the advancement of the company’s clinical development programmes both in the USA and China.

MicuRx studies and develops antibiotics with improved safety profiles to improve the treatment of resistant bacterial infections.

The latest infusion of funds will support completion of the ongoing Phase 3 programme for its oral antibiotic, contezolid (MRX-I) as well as the projected Chinese NDA filing, along with other business activities in China. The company also announced the clinical completion of Phase 1 studies for both the oral and the intravenous formulations of contezolid acefosamil (MRX-4), a water-soluble prodrug of contezolid.

Founded in 2007, the company now has research and development facilities outside San Francisco, California in the US, and in Shanghai, China.

MicuRx claimed to have raised a total of $107 million through leading venture capital firms, including Morningside Ventures, BVCF, GP Healthcare Capital, GP TMT Capital, 3E Bioventures Capital, and Delian Capital.

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