MicuRx Pharmaceuticals, Inc., a privately-held bio-pharmaceutical company developing next-generation antibiotics, says it has raised US$25 million in series B financing.
The round is led by BVCF, a private equity and growth fund specializing in the life sciences industry, the round also includes existing investors Morningside Group and Devon Park Bioventures.
MicuRx Pharmaceuticals says it will use the proceeds to fund the U.S. development of a novel antibiotics to combat infections due to resistant bacteria. As part of the deal, Weixin Xu and Davis Yang of BVCF will join the MicuRx board of directors.
Previously, MicuRx Pharmaceuticals has raised US$12 million in series A financing from Morningside Group and Devon Park Bioventures.
"We look forward to supporting the parallel development of MRX-I in the United States and China, as this novel antibiotic has the potential to offer an attractive option for addressing the growing threat of multi-drug resistant bacteria，" says Zhi Yang, general partner at BVCF.
Headquartered in Shanghai, BVCF (formally known as BioVeda China) is a private equity and growth capital investor specializing in China’s life sciences and healthcare industry.
MicuRx Pharmaceuticals aims to capture the benefits of United States research and development expertise with the high quality and cost-efficient discovery, preclinical and development infrastructure in China. The company has research and development facilities outside San Francisco, California and in Shanghai, China.