Baiming Xinkang Completes Over RMB 1.1 Billion Series C Financing to Advance Allergy and Autoimmune Disease Therapies

VCBeat learned at the first time,Recently, Worg, a biopharmaceutical company focused on providing breakthrough immunotherapy solutions, announced the completion of over11100 million RMBCRound of financing. This round of financing was led byCopyright Detong (Shanghai) private equity fund management Co., Ltd., Worg, GermanyYSIMFund, Jiansu Capital,Co-investment by Kequan Fund, Kangjun Capital, a renowned European local financial institution, and existing shareholders.

The funds from this round of financing will be mainly used for the global development and commercial expansion of the existing product pipeline, the construction of an independent R&D platform, and the introduction of new projects. Meanwhile, the company will also accelerate the establishment of an international and professional team.

Worg Pharmaceuticals (Zhejiang) Co., Ltd. was founded in2018Years, focusing on specific immune regulation, using revolutionary innovative technology platforms, integrating global resources, creating a one-stop service platform for diagnosis and treatment, and committed to becoming a global leader in immunotherapy desensitization (AIT) field leader.

The company's management team comes from China, the United States, and Europe, with extensive experience in corporate management, drug development, clinical trials, regulatory affairs, and commercialization within the life sciences industry.

As an important business segment of the company, allergy-freeThe Research and Application of Epidemic TherapyWorgWorg's Core Focus.PCFiT^TM, as an important innovative platform for allergy immunotherapy technology, currently has multiple products under development and boasts world-leading technological achievements. These products have significant advantages in terms of convenience and safety, offering allergy sufferers more relaxed and secure treatment options to help them completely overcome the challenges of allergic diseases.

Worg's research and development achievements in the field of autoimmune therapy once again demonstrate the power of technological innovation.Apitopes®A soluble polypeptide originally developed by the technical platform can specifically inhibit the production of autoantibodies.TheInnovative technology is expected to bring new causality-based treatments for patients with autoimmune diseases.

Co-founder and PresidentJeffrey SuDr. Su Yanjing said:“Currently, the company has made gratifying progress in internal product pipeline development and external cooperation. This round of financing will more effectively promote the continuous development of products on the proprietary technology platform, clinical research of new products, and the construction of production capacity, which is crucial for Worg's current and future development. We thank the investors for their recognition of the company’s positioning and value.We care, We deliver !”

Dr. Xu Aiwen, founder, chairman and CEO of the company, said:“CWith the successful completion of this round of financing, the company will actively promote the development of more product pipelines at a faster pace, fully accelerate the integration of clinical and commercialization processes, and hope to benefit more patients as soon as possible to meet unmet treatment needs. A hundred lights shine brightly, establishing trust and health! We thank our investors for their long-term trust and support in Worg. We will continue to maintain the strong momentum of high-quality development, win the future on a new journey, more actively and extensively meet patient needs, and give back to society and our investors.”