Congratulations to Shanghai MicuRx Pharmaceutical Co., Ltd. (688373.SH) on its Successful Listing

Shanghai MicuRx Pharmaceutical Co., Ltd. has been successfully listed on the Shanghai Stock Exchange Science and Technology Innovation Board (STAR) on 5 August 2022. AVISTA Group is honored to be engaged in providing valuation services with regard to this listing application.

Established in 2007, MicuRx is an innovative biopharmaceutical company focusing on therapeutics for infectious diseases with global independent intellectual property and competitiveness. MicuRx is committed to the discovery, development, and commercialization of innovative drugs for unmet medical needs. MicuRx has adhered to the principle of “Better therapy through superior medicine", focusing on the increasingly serious problem of global antimicrobial resistance. With the core competitiveness of solving clinical problems and differentiated innovation, MicuRx’s  goal is to provide more effective and safer therapeutic options for patients suffering from the most common and serious drug-resistant bacterial infections.

Contezolid, one of MicuRx’s core products, is the first oxazolidinone antibiotic designed, developed, and marketed in China. According to the Frost & Sullivan Report, the oxazolidinone antibiotic drugs continued its rising trend with market size of RMB 1.5 billion and a compound annual growth rate of 21.2% from 2016 to 2020. As the antimicrobial market is clearly structured and managed, safer and more reliable oxazolidinone antibiotic drugs will be marketed in China while the market size will expand to RMB 6 billion by 2030.

Congratulations to Shanghai MicuRx Pharmaceutical Co., Ltd. (Stock Quote: 688373.SH) on its successful listing on the Science and Technology Innovation Board of Shanghai on 5 August 2022. The issue price of the shares is RMB 8.16 per share, and the amount of funds raised is RMB 1.06 billion. 

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