Micurx raises $25m to fund U.S. Development of MRX-I Next-Generation Antibiotic

MicuRx Pharmaceuticals, Inc., a privately-held biopharmaceutical company developing next-generation antibiotics, today announced it raised $25 million in Series B financing. Led by BVCF, a private equity and growth fund specializing in the life sciences industry, the round also includes existing investors Morningside Group and Devon Park Bioventures.

Tata Capital Invests in Sterile drug company Marck Bioscience

Tata Capital Healthcare Fund to invest close to $10m in Marck Bioscience. Marck is a sterile formulation manufacturing and marketing company based out of Ahmedabad with annual revenues close to $30million (INR 140 Crores) . This is the second round of funding that Marck has raised. Prior to this Marck has received investment from IFCI Venture Capital Fund.  The other major companies in the sterile space in India include Strides, Claris and Parenteral Drugs.

Marck manufacture sterile products which include Intravenous Infusions (I.V. Fluids), Injectable, Sterile Water for Injections, Ophthalmic Irrigation solutions, Respiratory Products.

GE Capital values Biocon's subsidiary Syngene at 1625 crores or 30% of Biocon current M.Cap

GE Capital would be investing 125 crores for a 7.69% stake in Biocon's s subsidiary Syngene Syngene provides drug discovery services to pharmaceutical and biotechnology companies. We believe with this dilution, Biocon has moved one step closer to an IPO of Syngene.

At 1625 crores, Syngene is valued at 4.1 times trailing revenues. In the first half 2013, Syngene revenues were up 40% and were 250 crores. Historically Syngene has generated 30% EBITDA, and assuming the same levels of EBITDA today, on an EV/EBITDA basis the deal is worth 13.5 times