MicuRx Pharmaceuticals successfully completed more than 700 million yuan of E-round financing, setting a new record for financing of new antibacterial drug R&D enterprises in recent years

On December 21, 2020, Shanghai MicuRx Pharmaceuticals Co., Ltd. announced the completion of round E financing (including new shares and old shares) totaling more than 700 million yuan. This round of financing was led by Junlian Capital, with the participation of several professional institutions including Yingke Capital, Founder Hesheng, China Merchants Securities, Detong Capital, KIP and Zhongtai Venture Capital. The funds will mainly be used to expand the research on indications of new drugs, promote the follow-up international multi center clinical trials, expand the R&D product pipeline, and independently commercialize the Chinese market.

As the world’s leading anti infective drug R&D technology enterprise, At the beginning of 2020, MicuRx has submitted the marketing application of the first new drug, Contezolid (Youxitai®，MRX-I), in China, which has been included in the priority review and approval. Contezolid is the first class 1 new drug against drug-resistant bacteria independently developed by MicuRx. It can be used to treat infections caused by multiple drug-resistant gram-positive bacteria, including Methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin resistant enterococcus (VRE). Since the discovery of Contezolid in 2008, after 11 years of development, MicuRx completed the world’s first phase III clinical trial for complex skin and soft tissue infections in 2019, and is expected to achieve commercialization in the first half of 2021.

The global demand for drugs to treat drug-resistant bacteria has experienced a “hunger” period of nearly 30 years. In order to deal with bacterial resistance, prevent drug-resistant bacteria from being “unavailable”, solve clinical unmet needs, and develop effective and safe “super antibacterial drugs” specifically against drug-resistant bacteria, has become an urgent strategic demand in China. It is precisely in response to this that the new drug of MicuRx, Contezolid, was born. In order to benefit the majority of patients as soon as possible, MicuRx is establishing an efficient and professional independent commercialization team.

ZHENGYU YUAN, founder and CEO of MicuRx, said: “We are committed to solving the most urgent public health problems facing the society today, preventing, treating and curing drug-resistant bacteria related diseases through new drug research and development, and improving people’s health and quality of life is the original intention of MicuRx for more than 10 years. We are very honored to be trusted and supported by Junlian and other top domestic investment institutions. This round of financing will further promote the strategy of MicuRx to drive the rapid development of the company with innovation as the driving force, to build an international leading biomedical enterprise that benefits patients. “

Jerry Li, senior vice president and chief financial officer of MicuRx, said: “MicuRx successfully completed a new round of equity financing again, which reflects the high recognition of the capital market for the company’s strategic positioning, business strategy and market value. MicuRx will always adhere to the strategic policy of” Better therapy through superior medicine”proposed by Dr. ZHENGYU YUAN, continue to rely on its own R&D advantages, develop both connotation and extension, and return to shareholders and society with the goal of achieving a higher rate of return on invested capital in the long run.”

Hongbin Zhou, General Manager of Junlian Capital, said: “We have in-depth exchanges with the management of MicuRx. With more than 30 years of experience in new drug research and development, CEO Dr. YUAN is the world’s top scientist in the field of new anti infective drug research and development. With 13 years of dedication and tenacity, MicuRx has gradually built a team that is scientific, rigorous, well organized, low-key and pragmatic, and has built a number of global innovation pipelines with orderly connection and unique advantages. These pipelines are extremely scarce to meet the clinical sense It has unique medical value and social significance to meet the demand of severe infection. Junlian is honored to have the opportunity to participate in and support the cause of MicuRx, and hopes that the company can continue to develop into a global rare and leading anti infective new drug R&D enterprise, which will benefit patients with severe infections worldwide! Special thanks to the management and the company’s old shareholders for their recognition and support of Junlian! “

About MicuRx Pharmaceuticals

MicuRx is a biopharmaceutical company focusing on novel therapeutics for infectious diseases. With global independent intellectual property and competitiveness, we are committed to the discovery, development, and commercialization of innovative drugs for unmet medical needs. Since the company was founded in 2007, MicuRx has adhered to the principle of “Better therapy through superior medicine”, focusing on the increasingly serious problem of global antimicrobial resistance. With the core competitiveness of solving clinical problems and differentiated innovation, our goal is to provide more effective and safer therapeutic options for patients suffering the most common and serious drug-resistant bacterial infections.

About Junlian Capital

Junlian Capital is a professional venture capital company under Lenovo Holdings, which was established in April 2001. The core business is positioned as venture capital in the start-up stage and growth investment in the expansion stage, focusing on TMT and investment in innovative consumption, intelligent manufacturing, medical health and professional services. The total size of USD and RMB funds under management exceeded 50 billion yuan, focusing on China’s innovation and growth opportunities.

By 2020, Junlian Capital has invested nearly 500 enterprises, of which about 80 have successfully listed/listed at home or abroad, and more than 60 have exited through mergers and acquisitions.