China-based Jiangsu Vcare PharmaTech Co. Ltd has reportedly raised over RMB 200 million (USD 28.67 million) in a Series B financing round. The round was led by Changjiang Venture Capital, with additional investments from Hongcheng Investment, Huadian Investment, Yangtze Investment, and SDIC. The proceeds will be used for clinical development and the construction of a Contract Development and Manufacturing Organization (CDMO) industrialization base.
Company Background and Drug Pipelines
Vcare Pharma boasts over 10 innovative drug pipelines, multiple of which are at pivotal stages. These include the Category 1 antithrombotic drug vicagrel, the second-generation NTRK inhibitor VC004, the JAK1 inhibitor VC005, and more. The company, which secured Series A funding in April 2022, operates a CRO/CRMO unit in Nanjing.
Future Prospects and Strategic Use of Funds
The Series B financing round positions Vcare PharmaTech to further enhance its clinical development capabilities and expand its CDMO industrialization base. By investing in these areas, the company aims to solidify its position as a leader in innovative drug development, addressing significant unmet medical needs and contributing to the advancement of global healthcare.-Fineline Info & Tech
