Baiming Xinkang Secures Hundreds of Millions in Funding to Advance Breakthrough Immunotherapies

Investment Circle (ID: pedaily2012) November 20th news, Worg, a biopharmaceutical company focused on providing breakthrough immunotherapy solutions, announcedCompleted a new round of financing worth hundreds of millions of yuan. This round of financing was jointly invested by several well-known institutions and industry investors, including PICC Capital Equity, Clearpine Capital, and a certain well-known industry investment institution.

Worg, established in 2018, is committed to the research and development of next-generation specific immunotherapies for allergic and autoimmune diseases. The company owns a wholly-owned subsidiary in Europe that integrates production, research, and sales, with dozens of commercialized products. Worg is actively expanding its global market and promoting the clinical development and commercialization in China of innovative allergy immunotherapy products already marketed in Europe. Meanwhile, the company continues to develop two new technology platforms: PCFiT™ (recombinant peptide carrier fusion protein) and Apitope® (tolerogenic peptides), rapidly building a pipeline for the research and development of treatments for allergic and autoimmune diseases based on these platforms. Several pipelines, including those for grass pollen allergy and Graves' disease, have entered Phase II and Phase III clinical trials in various countries worldwide.

Dr. Xu Aiwu, founder and chairman of the company, said:"Thanks to the strong support from this round of investors and the consistent trust from existing shareholders. Since its establishment, the company has been continuously optimizing its business model and iterating product innovations, focusing on solving clinical pain points. The allergy market in China is huge, but the development and promotion of products are very challenging. Worg plans to enter the Chinese market as soon as possible to provide patients with more convenient, efficient, and safer treatment options. This round of financing will support Worg's global commercial expansion and clinical development of its existing product pipeline, expansion into emerging markets, and the deepening construction of an international professional management system."

The lead investor of this round, PICC Capital Equity, stated,Allergic diseases represent a significant unmet clinical need, and the field of immunotherapy desensitization holds immense market potential. The company has consistently focused on providing patients with integrated diagnostic and therapeutic solutions. Its international operational team not only ensures continuous innovation but also leverages extensive commercial experience to facilitate the globalization of its products. It is anticipated that the company will become a leader in this specialized field, benefiting patients worldwide.

This round of lead investor, ClearPine Capital, stated,We have full confidence in Worg's innovation capability, integrated diagnosis-treatment pipeline, and global team. The company focuses on the research and development of diagnostic and therapeutic products in the field of immunotherapy and desensitization, achieving remarkable outcomes in the development of diagnostic tools and drugs for various allergic diseases. Its products demonstrate tremendous market potential. We look forward to the company’s continued innovation, providing more treatment options for patients, and achieving global commercialization of its products under the leadership of an experienced team, contributing further innovative achievements to the field of immunotherapy and desensitization.