Chinese biopharmaceutical firm MicuRx Pharmaceuticals Inc has pocketed as much as 300 million yuan ($43 million) in a Series D round of financing led by Huagai Capital, a Beijing-based investment firm manages over 150 million yuan ($22 million) in assets.
The round saw the participation of Sinopharm CICC Healthcare Fund, a sub-fund under the joint private equity firm co-founded by Sinopharm Group and CICC Capital in 2016. Zero2IPO Group’s Zero2IPO Investment also joined the round, according to a company statement on Wednesday.
The company will invest the proceeds to develop the clinical pipelines, and to accelerate the commercializations in China market.
MicuRx, which was co-founded by Dr. Zhengyu Yuan in 2007, is a clinical-stage biopharmaceutical company developing next-generation of antibiotics for drug-resistant superbug infections. With headquarters in Shanghai and California, the company has developed a pipeline of drug candidates for infections such as skin and soft tissue infections and osteomyelitism.
It has been backed by Morningside Ventures, BVCF, GP Healthcare Capital, GP TMT Capital, 3E Bioventures Capital, and Delian Capital.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on August 5, 2020.
