MicuRx Pharmaceuticals, Inc., an Hayward, CA- and Shangai-based biopharmaceutical company, China-based closed a ¥100m financing.
The round was led by existing investors Delian Capital and BVCF.
The company intends to use the funds for the completion of the ongoing Phase 3 program for its oral antibiotic, contezolid (MRX-I) as well as the projected Chinese NDA filing, along with other business activities in China.
Led by Zhengyu Yuan, Ph.D., president and CEO, and Barry Hafkin, M.D., chief medical officer, MicuRx is a privately-held biopharmaceutical company that aims to discover and develop antibiotics with improved safety profiles to improve the treatment of resistant bacterial infections.
The lead compounds, contezolid (MRX-1) and contezolid acefosamil (MRX-4), oxazolidinones targeting methicillin resistant S. aureus (MRSA), were structure-designed to reduce hematological adverse events of this antibiotic class.
In 2015, the company completed two independent Phase 2 studies in the US and China for oral contezolid (MRX-1), and is currently nearing completion of the Phase 3 program in China for the treatment of complicated skin and skin structure infections (cSSSI).
Contezolid acefosamil (MRX-4) phase 2 study in the USA is expected to start in 2018.
The company, which has research and development facilities outside San Francisco, CA in the United States, and in Shanghai, China, has raised a total of $107m through venture capital firms including Morningside Ventures, BVCF, GP Healthcare Capital, GP TMT Capital, 3E Bioventures Capital, and Delian Capital.