MicuRx Pharmaceuticals, Inc., a Hayward, Calif. and Shangai, China-based developer of next-generation antibiotic, closed a $55m Series C financing.
The round was led by GP Healthcare Capital with participation from new investors GP TMT Capital, 3E Bioventures Capital, and Delian Capital. In conjunction with the funding, Mr. Yu Miao of GP Healthcare Capital will join the board of directors.
The company intends to use the funds to continue development of MRX-I in both the United States and China, in particular to complete its Phase 3 trial using oral MRX-1 to treat complicated skin and skin structure infections (cSSSI) in China, complete one pivotal US Phase 3 trial with oral and intravenous formulations of the drug for the indication of acute bacterial skin and skin structure infections (ABSSSI) as well as file a Chinese NDA for cSSSI.
Led by Zhengyu Yuan, Ph.D., president and CEO, MicuRx is advancing an oral, next generation oxazolidinone antibacterial targeting infections due to multi-drug resistant Gram-positive bacteria, including methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin-resistant enterococci (VRE).
In 2015, the company completed a Phase 2 trial of cSSSI in China and a Phase 2 trial of ABSSSI in the U.S. for MRX-I, with linezolid as comparator in both studies. These trials, together with the previous completed Phase 1 trials in China and Australia, have demonstrated MRX-I’s efficacy with non-inferiority to linezolid in treatment of skin infections, and with overall safety improvement, including the evidence of reduced hematologic toxicity, which is the key factor limiting the use of linezolid.