Zongyi Group Invests $8.6 Million in ContraFect Corporation a U.S. Biotech  
4/19/2013 1:45:16 PM

by Richard Daverman, PhD

April 19. 2013 -- The Zongyi Group of China has invested $8.6 million in ContraFect Corporation, a New York City-area biotech that is developing biotech antibiotics. ContraFect is focused on the use of monoclonal antibodies and lysins as solutions for difficult-to-treat infectious diseases. The company said the new capital – it raised $9.5 million in the round – would advance a new drug toward clinical trials. ContraFect also expects Zongyi to open doors for the company in China. More details....