US/China-based MicuRx Gets $55m Series C Funding For MRX-I Antibiotic
Executive Summary
Hayward, California-based antibiotics developer MicuRx Pharmaceuticals raised $55 million in a Series C venture capital round to fund further clinical trials in the US for its next-generation oral oxazolidinone MRX-I through to the drug’s first New Drug Application filing in China.
You may also be interested in...
Finance Watch: 2020 Is Four Biopharma IPOs Away From Matching 2019
With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.
VC Roundup: Early-Stage Funding Slips Again In Third Quarter, Plus 15 New Financings
Early-stage venture capital funding continues to decline, but corporate VC dollars and other sources of cash are emerging to fund startups. Also, biopharma companies raised $436.3m in 15 recent financings.
Soon To Start Antibiotic Trial In China, MicuRx Gets $25M For U.S. Testing
Chinese-U.S. hybrid MicuRx, founded by Vicuron veterans, has strong preclinical and Phase I data for a novel antibiotic targeting Gram-positive infections. Its cross-border approach will soon support two mid-stage trials.