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China’s BVCF leads $25m Series B for antibiotics business MicuRx

22 Aug 2013

drug-pharma-medical-healthcareChinese life sciences and healthcare-focused private equity firm BVCF has led a $25m Series B financing round for antibiotics developer MicuRx.

Existing investors Devon Park Bioventures and Morningside Group also took part in the financing, which will be used to fund development of MicuRx’s new oral drug targeting multi-drug resistant Gram-positive bacteria.

BVCF’s Weixin Xu and Davis Yang will join the MicuRx board of directors following the investment.

Zhi Yang, a partner at the firm, said, “We invest in companies with experienced management teams and sound strategic plans.

“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.”

In April Edmond de Rothschild Investment Partners made the first investment from its BioDiscovery 4 life sciences fund by leading a €15m Series A round for Swiss-based company Allecra Therapeutics.

The funds will be used to finance early clinical development of two new antibiotic treatments also designed to combat multi-drug resistant gram-negative bacteria.

Forbion Capital Partners co-led the round, which was also backed by EMBL Ventures.

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