MicuRx deal

MicuRx and Shanghai Zhangjiang Biomedical Industry Venture Capital launched Shanghai MengKe Pharmaceuticals Inc., a JV to develop and commercialize MicuRx's antibiotic MRX-I in China. Zhangjiang Biomedical will contribute RMB60 million ($9.6 million) to the JV. MicuRx is responsible for daily operations of the JV, in which it will own an undisclosed "majority" share. MicuRx plans to start Phase II testing of MRX-I next year in the U.S. to treat complicated skin and skin structural infection (cSSSI). MicuRx expects to complete clinical testing and submit an NDA for MRX-I to treat cSSSI in China by 2017. The product is a next-generation oral oxazolidinone, a bacterial protein biosynthesis inhibitor. ...