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MicuRx Closes $55 Million Series C Financing to Support Development of Next-Generation Antibiotic MRX-I

Sep. 26, 2016

MicuRx Pharmaceuticals, Inc. announced on September 26, 2016 the close of its $55 million Series C financing.

Led by GP Healthcare Capital, the round included new investors GP TMT Capital, 3E Bioventures Capital, and Delian Capital.

Funding from Series C financing will be used to continue development of MRX-I in both the United States and China. With the funds, the company expects to complete its Phase 3 trial using oral MRX-1 to treat complicated skin and skin structure infections (cSSSI) in China, complete one pivotal US Phase 3 trial with oral and intravenous formulations of the drug for the indication of acute bacterial skin and skin structure infections (ABSSSI) as well as file a Chinese NDA for cSSSI. The BFC group provided financial advice to MicuRx.

MRX-I is an oral, next generation oxazolidinone antibiotic drug targeting infections caused by multi-drug resistant Gram-positive bacteria, including methicillin-resistant Staphylococcus aureus (MRSA) and vancomycin-resistant enterococci (VRE).