Worg Pharmaceuticals Completes Series A Financing of Nearly RMB 200 Million to Advance Allergy Immunotherapy Pipeline

PE Daily (ID: pedaily2012) reported on January 18 that Worg Pharmaceuticals (Hangzhou) Co., Ltd. (“Worg”) announced the completion of its Series A financing round, raising nearly RMB 200 million. Investors in this round includedKaitai Capital, Jiachen Capital,Puhua Capitaletc.

Worg is an innovative pharmaceutical company founded in 2018, headquartered in Hangzhou. The company’s entrepreneurialPartnerThe team, comprising experts from China, the United States, and Europe, possesses extensive knowledge and rich experience in drug development, clinical trials, regulatory affairs, and market access. It is also well-versed in product commercialization and the full spectrum of international industrial operations. The company is dedicated to the development and commercialization of innovative drugs. Leveraging its proprietary technology platform, it focuses on allergen diagnostics and allergen-specific immunotherapy, aiming to establish a closed-loop allergy diagnosis and treatment platform with comprehensive management. Currently, the company has built a robust pipeline comprising multiple products in development, among which the timothy grass pollen desensitization drug has completed Phase II clinical studies in Europe.

Dr. Xu Aiwu, Chairman and CEO of Worg, stated, “We are deeply honored to have received recognition and support from renowned investors both domestically and internationally, successfully completing our Series A financing. Worg is a young innovative pharmaceutical company in China, dedicated to building a world-leading platform for the diagnosis and treatment of allergies, providing sustained and effective precision solutions for allergy patients worldwide. Currently, the company has made gratifying progress in internal pipeline development and external collaborations; WP1048 has completed Phase 2 clinical studies in Europe, and WP1049 is preparing to enter Phase 1 clinical trials. This round of financing will primarily be used for the upcoming clinical preparation work for these two projects and the continued development of new products, which is crucial for Worg’s current and future development. We thank the investors for their recognition of the company’s positioning and value.”

Jin Qi, Managing Director and President of Kaitai Capital, stated, “Allergen immunotherapy offers advantages in both efficacy and cost-effectiveness compared to symptomatic treatment; however, its market penetration remains low due to limited ease of use. Worg’s allergy treatment technology is poised to address the shortcomings of traditional immunotherapy products, thereby enabling more allergy patients to benefit from immunotherapy.”