On August 5, 2020, MicuRx Pharmaceuticals, a Biotech focusing on discovery and development of novel antimicrobials, officially reported the close of nearly $43M series D financing, led by Huagai Capital, and with participation from Sinopharm-CICC and Zero2IPO Asset Management (Press release, MicuRx Pharmaceuticals, AUG 5, 2020, View Source [SID1234647080]). The funds will be mainly used to promote and expand clinical pipeline, and to support the comprehensive independent commercialization in China market.

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"We are honored to be recognized and supported by the Chinese top investors. Completion of this round marks the official entry of MicuRx into a new stage of development. "said Dr. Yuan Zhengyu, founder and CEO of the company," The world’s public health system will face unprecedented challenges in 2020. At the same time, the world will continue to face the dual urgency of bacterial resistance and the shortage of new antimicrobial drugs. Shouldering the sacred mission of fighting infection, MicuRx will adhere to the enterprise spirit of "professionalism and innovation", and strive to bring more original, efficient and safe products to patients with severe infection in China and the world, so as to better benefit the society. "

As the leading investor of this round of financing, Xu Xiaolin, chairman of Huagai Capital, congratulated MicuRx on the successful completion of round D financing. "As a leading enterprise in the innovation and development of new antimicrobial drugs, MicuRx has a core R&D capability and unique product pipeline. Under the leadership of Dr. Yuan and the management, we believe that MicuRx will take the commercialization of the Chinese market as an opportunity to achieve a new take-off. "

Mr. Li Zhiming, chairman of Sinopharm-CICC, commented: "China is a big country in the world widely uses common antibiotics. The overuse of antibiotics has led to the increasingly serious problem of clinical drug resistance. It is an urgent strategic need for Chinese enterprises to develop "super antibiotics" against drug-resistant bacteria in China. We hope that with the efforts of the company’s founding team and all shareholders, we can achieve a breakthrough of China’s local super antibiotics."

The first product developed by MicuRx call contezolid, is a new generation of oxazolidinone antibiotics for the treatment of multi drug resistant Gram-positive bacteria including methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin resistant Enterococcus (VRE). Since the discovery of the compound in 2008, MicuRx has spent 11 years in development. After successfully completing the first phase III clinical trial for Complex Skin and Soft Tissue Infections, MicuRx has submitted China’s new drug marketing application (NDA) at the end of 2019, and has granted the priority review by National Medical Products Administration (NMPA).

In order to comprehensively promote the independent commercialization of contezolid, MicuRx will establish an efficient and professional commercialization team. Zhao Dongming, VP of MicuRx, who has rich commercial experience in the field of anti-infection, said: "the company has completed the formulation of commercialization and marketing strategy for contezolid. We are confident that contezolid will be highly recognized by doctors and experts, meet the clinical needs of patients, and that the ultimate success of the commercialization of MicuRx new drug, return to shareholders and the society."