Baiming Xinkang Secures Hundreds of Millions in New Funding to Advance Allergy and Autoimmune Disease Therapies

VCBeat learned第一时间 that Worg, a biopharmaceutical company focused on providing breakthrough immunotherapy solutions, recently announced the completion of a new round of financing worth several hundred million yuan. This round of financing was jointly invested by multiple well-known institutions and industry investors, including PICC Capital Equity Investment Co., Ltd., China Tsing Song Investment Ltd, and a well-known industrial investment institution.

Worg was founded in 2018 and is dedicated to the research and development of next-generation specific immunotherapies for allergic and autoimmune diseases. The company has operations in Europe.A wholly-owned subsidiary integrating production, research, and sales,With dozens of commercialized products. The company is actively expanding into the global market and promoting the clinical development and commercialization in China of innovative allergy immunotherapy products already launched in Europe. Meanwhile, the company continues to develop.PCFiT™ (Recombinant Peptide Carrier Fusion Protein), Apitope^®(Inducible immune tolerance peptide)Two major new technology platforms, and rapidly built a R&D pipeline for allergy and autoimmune disease indications based on the new technology platforms. Among them, several pipelines, such as grass pollen allergy and Graves' disease, have entered phase II and phase III clinical trials in different countries worldwide.

Currently, allergic diseases have become one of the most common chronic illnesses globally. Statistics show that the prevalence of autoimmune and allergic diseases exceeds 40% worldwide, with over 400 million patients in China alone. Patients with allergic diseases require long-term medication, imposing a heavy socioeconomic burden. Allergen immunotherapy (AIT) is the only WHO-recognized first-line causal treatment for allergic diseases. As a global quasi-unicorn enterprise in the AIT field, after completing this round of financing, Worg will accelerate the development and promotion of internationally leading allergen immunotherapy and precision diagnostic solutions in China, benefiting nearly 200 million patients with allergic diseases in China.

The company's main commercialized products include:

Natural Extract Allergen SCIT, SLIT (Spray) Allergy Treatment Products:Covering nearly 40 common allergens, including dust mites, pollen, mold, pet dander, and other allergens.

Molecular Allergen Allergy Treatment Products:The world's first SCIT products developed and commercialized for molecular allergens such as mold, cypress, and dust mites.

Allergen-Specific Immunotherapy Products:Covering more than 20 common allergens.

Allergy Diagnostic Products:More than 60 types of allergen skin prick test reagents, penicillin allergy test reagents.

Dr. Xu Aiwu, founder and chairman of the company, stated: "We are very grateful for the strong support from this round of investors and also for the consistent trust from our existing shareholders. Since its establishment, the company has continuously optimized its business model and iterated product innovations, focusing on solutions to clinical pain points. The allergy market in China is enormous, but the difficulty in product development and promotion is significant. 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 further enhancement of an international professional management system."

PICC Capital Equity Investment Co., Ltd., the lead investor of this round, stated that allergic diseases represent a significant unmet clinical need, and the field of immune desensitization treatment has enormous market potential. The company has been committed to providing patients with comprehensive, integrated diagnostic and therapeutic solutions. Its international operational team not only ensures continuous innovation but also leverages extensive commercial experience to facilitate product globalization. We look forward to the company becoming a leader in this niche sector, benefiting patients worldwide.

Lead investor in this round, China Tsing Song Investment Ltd, stated that we have full confidence in Worg's innovative capabilities, integrated diagnosis and 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 outstanding results in the development of diagnostic products and drugs for various allergic diseases, demonstrating enormous market potential. We look forward to the company’s continued innovation in providing more treatment options for patients and, with the support of an experienced commercialization team, realizing the global rollout of its products, contributing more innovative achievements to the field of immunotherapy and desensitization.