Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, has led a RMB700m ($107 million) series E round for China-based antimicrobial therapeutics developer MicuRx Pharmaceuticals, DealStreetAsia reported on Monday.
China Merchants Group subsidiary China Merchants Securities also took part in the round, as did Korea Investment Partners, Yingke PE, Founder H Fund, Zhongtai Ventures and Detong Capital, according to a WeChat post cited by DealStreetAsia.
MicuRx is working on antimicrobial therapeutics to treat multidrug-resistant infections. Its lead product candidate, MRX-I, is targeted at complex skin and soft tissue infections.
The series E round increased the company’s overall funding to about $255m and the proceeds will fund clinical trials and the commercialisation of its products.
The latest funding comes after MicuRx secured $43.2m in an August 2020 series D round led by HG Capital and backed by Sinopharm-CICC, a joint venture between pharmaceutical firm Sinopharm and China International Capital Corporation, in addition to Zero2IPO Asset Management.
The company’s earlier funding came from 5Y Capital, BVCF, Devon Park Bioventures, GP Capital’s GP TMT Capital vehicle, 3E Bioventures Capital and Delian Capital.
