Sinpoharm-backed joint venture Sinopharm-CICC was among the investors in a $43.2m round that boosted the antimicrobial drug developer's total funding to near $150m.

China-based antimicrobial therapy developer MicuRx Pharmaceuticals raised RMB300m ($43.2m) in a series D round featuring Sinopharm-CICC, a joint venture backed by pharmaceutical company Sinopharm, China Money Network reported yesterday.

Sinopharm-CICC, co-founded with investment manager China International Capital Corporation, joined private equity firm HG Capital, which led the round, and Zero2IPO Asset Management.

MicuRx is working on antibiotics that will be used to treat multi-drug resistant infections, otherwise known as superbugs. The funding will go to advancing its pipeline of product…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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