On August 5, 2022, Legend Capital portfolio company MicuRx Pharmaceuticals, a scarce enterprise in super antibiotic, was successfully listed on the STAR Market. MicuRx Pharmaceuticals issued 130,000,000 shares this time, accounting for 19.84% of the total share capital after the issuance. The total amount of funds raised is expected to be about RMB 960 million at the issue price of 8.16 yuan per share.
MicuRx Pharmaceuticals is an innovative drug company focusing on novel therapeutics for infectious diseases. With global independent intellectual property and competitiveness, MicuRx Pharmaceuticals is committed to the discovery, development, and commercialization of innovative drugs for unmet medical needs. The main products from MicuRx Pharmaceuticals include Contezolid, MRX-4, and MRX-8. Since the company’s establishment, MicuRx Pharmaceuticals has adhered to the principle of “Better therapy through superior medicine”, focusing on the increasingly severe problem of bacterial resistance worldwide. With the core competitiveness of solving clinical problems and differentiated innovation, MicuRx Pharmaceuticals aims to provide more effective and safer therapeutic options for patients suffering from the most common and severe drug-resistant bacterial infections. MicuRx Pharmaceuticals has an international core R&D team and has established R&D centers in China and the US. The company’s R&D team has rich experience in international innovative drug development and management, and it has led or participated in developing a number of marketed anti-infective new drugs.
Legend Capital invested in MicuRx Pharmaceuticals in 2020 and has long supported the company’s development. “Congratulations to MicuRx Pharmaceuticals. The successful listing represents the recognition of MicuRx Pharmaceuticals’ innovative R&D in the field of multi-drug-resistant bacterial infection and its globally competitive innovative drug. Legend Capital and the MicuRx team have established a deep friendship, and Legend Capital is honored to participate in the MicuRx business led by Dr. Zhengyu YUAN, the founder of MicuRx Pharmaceuticals. Dr. YUAN is a very tenacious and spiritual entrepreneur who dares to take risks, filling the Chinese market gap in the scarce field of multi-drug-resistant bacterial infection. With the consolidation of the company’s leading edge and position, Dr. YUAN has not only built an international team and an innovative global enterprise but also made positive contributions to the development of human health.” Said Legend Capital.
Legend Capital has long paid close attention to investment in significant themes in the field of life sciences. In addition to MicuRx Pharmaceutical, Legend Capital has also made investments in plenty of other outstanding companies, many of which were listed on A-shares and H-shares, such as Pharmaron (300759.SZ) (03759.HK), Kingmed Diagnostics (603882.SH), Wuxi Apptec (603259.SH) (02359.HK), WuXi Biologics (02269.HK), Recbio (02179.HK), Innovent Biologics (01801.HK), Berry Genomics (000710.SZ), Harbour BioMed (02142.HK), New Horizon Health (06606.HK), and Chemclin Diagnostics (688468.SH).
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies through solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.