MicuRx Pharmaceuticals Completes Nearly RMB 300 Million Series D Financing, Accelerating Commercialization of Novel Anti-Infective Drug

On August 5, 2020, MicuRx Pharmaceuticals, a company dedicated to the development of novel antibacterial drugs, officially announced the completion of its Series D financing round, raising nearly RMB 300 million. The round was led by Huagai Capital, with participation from Sinopharm China International Capital Medical Industry Fund and Zero2ipo Asset Management. The funds will be primarily used to advance and expand the clinical pipeline, as well as to support fully independent commercialization in the Chinese market.

“We are honored to have gained the recognition and strong support of China’s leading investment institutions. The completion of this financing marks Micurx Pharmaceuticals’ official entry into a new stage of development,” stated Dr. Zhengyu Yuan, Founder and CEO of the company. “In 2020, the global public health system faced unprecedented challenges. Meanwhile, the world continues to confront the dual urgencies of bacterial resistance and a shortage of novel antibacterial agents. Upholding our sacred mission in anti-infective therapy, Micurx Pharmaceuticals will adhere to its corporate spirit of ‘Professionalism and Innovation,’ striving to deliver more original, highly effective, and safe products to critically ill patients with infections in China and around the world, thereby better serving society.”

As the lead investor in this funding round, Xu Xiaolin, Chairman of Huagai Capital, congratulated Micurx Pharmaceuticals on the successful completion of its Series D financing. “As a leading enterprise in the innovative R&D of novel antibacterial drugs, Micurx possesses core R&D capabilities at the forefront of the industry and a unique product pipeline. Under the leadership of Dr. Yuan and the management team, we believe that Micurx will seize the opportunity of commercialization in the Chinese market to achieve new heights.”

Mr. Li Zhiming, Chairman of Sinopharm China International Capital Corporation, commented on the fund’s investment in Micurx Pharmaceuticals: “China is one of the world’s largest consumers of conventional antibiotics, and their overuse has led to an increasingly severe problem of clinical drug resistance. The development by domestic Chinese enterprises of new ‘super antibiotic’ drugs to combat resistant bacteria represents an urgent strategic need in China. We hope that, through the efforts of the company’s founding team and all shareholders, we can achieve a breakthrough in bringing China’s first domestically developed super antibiotic to market.”

Contezolid tablets (Uxitai®), the first independently developed product of Micurx Pharmaceuticals, is a next-generation oxazolidinone antibacterial agent indicated for the treatment of multidrug-resistant Gram-positive bacterial infections, including those caused by methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin-resistant enterococci (VRE). Since the compound’s discovery in 2008, Micurx Pharmaceuticals has undergone eleven years of development. After successfully completing its first Phase III clinical trial for complicated skin and soft tissue infections, the company submitted a New Drug Application (NDA) in China in late 2019 and was granted priority review status by the National Medical Products Administration (NMPA).

To comprehensively advance the independent commercialization of Youxitai, Micurx Pharmaceuticals will establish a highly efficient and professional commercial team. Zhao Dongming, Vice President of Micurx Pharmaceuticals, who possesses extensive commercialization experience in the field of anti-infectives, stated: “The Company has completed the formulation of its commercialization strategy and marketing promotion plan for Youxitai. We are confident that Youxitai will gain high recognition from medical experts, fully meet the clinical needs of patients, and ultimately achieve commercial success, thereby delivering returns to shareholders and contributing to society.”

Micurx is a clinical-stage biotechnology company focused on the discovery, development, and commercialization of antibacterial agents for the treatment of infections caused by multidrug-resistant (MDR) “superbugs.” Since its establishment in 2007, we have built a robust R&D pipeline that includes contezolid (MRX-I), contezolid fosfomycin (MRX-4), MRX-8 (a novel polymyxin-class agent targeting MDR Gram-negative bacteria), and MRX-12 (a new class of drug targeting MDR Gram-negative bacteria). For more information, please visit: www.micurxchina.com.

Huagai Capital, with the vision of “becoming the most trusted investment partner for entrepreneurs and investors,” focuses on private equity investments in three major sectors: healthcare, TMT (Technology, Media, and Telecom), and culture and education. The firm has managed over RMB 15 billion in cumulative fund assets, with ten portfolio companies successfully listed. Its healthcare funds concentrate on biopharmaceuticals, medical devices, and healthcare services, prioritizing industry M&A consolidation within the healthcare sector as well as investment opportunities in high-growth, high-tech enterprises at early to mid-stages.

Sinopharm CICC (Shanghai) Private Equity Fund Management Co., Ltd. is a fund management company established in 2016 as a joint venture between CICC Capital and Sinopharm Group. The Sinopharm CICC Healthcare Industry Fund, managed by the company, is a private equity investment fund focused on investments in the pharmaceutical, healthcare, and broader health industries. The fund’s primary investment areas include innovative biologics, pharmaceutical retail, medical devices, and healthcare services. The fund’s team primarily comprises professionals from CICC’s investment banking and direct investment divisions, as well as senior executives from pharmaceutical companies, bringing extensive resources and rich experience in both investment and the healthcare sector. To date, the fund has invested in numerous well-known, high-quality industry enterprises, including Suzhou Ribo Life Science, Haihe Biopharma, Tengrui Pharmaceutical, Fapon Biotech, Shanghai United Imaging Healthcare, Hangzhou Shuchuang, Panview Medical, Xi’an Dayi, and Dingdang Kuaiyao.

Zero2ipo Asset Management, established in 2012 as a subsidiary of the Zero2ipo Group, specializes in providing strategic industrial layout and medium-to-long-term asset management and investment services to listed companies and family enterprises. Leveraging the Zero2ipo Group’s profound understanding of China’s private equity industry and its comprehensive suite of research, conference, consulting, and investment services, Zero2ipo Asset Management adopts an active management approach to uncover corporate and market value, thereby realizing the philosophy of value investing. The firm has partnered with numerous listed companies to establish strategic industrial funds, including Longfor Properties, Pien Tze Huang, Lingnan Landscape, Lanxum, Urovo, and Yaoji Playing Card, while also managing dozens of family funds. Currently, Zero2ipo Asset Management oversees assets exceeding RMB 20 billion.