Week in Review: MicuRx Pharmaceuticals Raises $25 Million for Antibiotic Clinical Trial

Published: Aug 26, 2013

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by Richard Daverman, PhD

August 24, 2013 --MicuRx Pharm of San Francisco and Shanghai raised $25 million in a Series B round to fund Phase II trials of its antibiotic for drug-resistant infections; Wanbang Pharma, a subsidiary of Fosun, signed an LOI to in-license China rights for a diabetes 2 treatment from Sirona Biochem of Canada; Suzhou-based Innovent partnered with Adimab of the US to discover and develop a new mAb for an unspecified target; Zhejiang Beta spent just $20-$30 million to develop a EGRF treatment for lung cancer, a large market in China; Eli Lilly was accused by a former manager of bribing doctors to promote sales in China; and BeiGene of Beijing announced a Scientific Advisory Board that includes an international list of experts with experience in oncology drugs. More details….

Stock Symbols: (SHA: 600196; HK: 2196) (TSX: SBM) (NYSE: LLY)

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