MicuRx Pharmaceuticals in JV

MicuRx Pharmaceuticals Inc. and Shanghai Zhangjiang Biomedical Industry Venture Capital have established a joint venture to fund the development of the MRX-I antibiotic for the Chinese market. Zhangjiang Biomedical Industry Venture Capital will contribute 60 million RMB ($9.6 million) to the joint venture. MicuRx has raised $12 million in Series A venture funds from Morningside Group and Devon Park Bioventures.

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