Worg Pharmaceuticals, dedicated to providing groundbreaking immunotherapy solutions, will continue to accelerate the development of its product pipelines and provide more effective drugs to patients with the fresh proceeds.
Worg Pharmaceuticals (Chinese: 百明信康), a biopharma company focusing on the development of new treatments for allergic and autoimmune diseases, announced its completion of the Series B financing round worth nearly CNY 400 million recently. The round was invested conjointly by Junson Capital (Chinese: 佳辰资本), Lapam capital (Chinese: 龙磐资本), Kaitai Capital (Chinese: 凯泰资本), Puhua Capital (Chinese: 普华资本) and Anji Ruixing Capital (Chinese: 安吉瑞兴资本). CEC Capital (Chinese: 易凯资本) and CITIC Securities (Chinese: 中信证券) served as the financial advisor for this round.
The funds will be used for the clinical development of core products and group construction. The company will also provide safer and more effective drugs for patients to meet clinical needs.
Founded in 2018, Worg Pharmaceuticals is a clinical-stage biopharma firm dedicated to developing new treatments for allergic and autoimmune diseases. The company also aims to extend its portfolio to other therapeutic areas of high unmet medical needs and considerable commercial potential. One of the company's core pipelines is allergy immunotherapy. Another core pipeline is immunotherapy.
Biopharmaceutical companies that focus on immunotherapy include Harbour BioMed (Chinese: 和铂医药), Meta Biopharma (Chinese: 默达生物) and BroadenBio (Chinese: 伯汇生物).