Jiangsu Vcare Closes Series A2 Financing
Published Time:
2022-05-06 17:26
Source:
Recently, Jiangsu Vcare Pharmatech Co., Ltd. (Jiangsu Vcare) closed its Series A2 financing round. This marks the successful closing of the company’s Series A financing, bringing the total Series A funding to nearly $60 million. This round was led by existing investor SDIC Capital, with co-investment from Yangtze River Industry Group. The proceeds will primarily support the R&D of innovative drug candidates as well as the construction of R&D and production bases for its CDMO business.
Currently, Jiangsu Vcare’s innovative drug pipeline is advancing steadily, with multiple drug candidates progressing through key stages. In 2022, several programs reached critical milestones:Vicagrel, a new cardiovascular and cerebrovascular drug (targeting P2Y12), obtained clinical approval from the US FDA. The drug has already initiated Phase III clinical research in China, with a research protocol that meets the requirements for both Chinese and US filings, and the US clinical trial is about to start; VC004, an anti-tumor new drug (targeting NTRK), has enrolled multiple patients in its Ib trial with significant efficacy, and the US IND application is soon to be submitted; VC005, a highly selective JAK1 inhibitor, is about to complete the SAD study, showing favorable preliminary safety and PK-PD properties. Additionally, nearly ten innovative drug candidates are in active development. The company’s wholly-owned subsidiary, Nanjing Vcare Pharmatech Co., Ltd. , continues to enhance its integrated CRO/CDMO services. Its Phase II CDMO R&D Technology Center is nearing completion, and the acquisition and construction of CDMO manufacturing facilities are progressing rapidly. With investor support, Jiangsu Vcare will accelerate its dual-track strategy: advancing proprietary drug development while expanding comprehensive drug industry chain services.
Dr. Gong Yanchun, Co-founder and CEO of Jiangsu Vcare, stated: "We are honored by the continued trust of our existing shareholders and deeply grateful for the recognition from new investors. Together, we will integrate resources to empower Vcare’s growth, accelerating the development of our integrated CRO/CDMO platform. We are proud to contribute our team’s decades of industry expertise, innovative technologies, internationally compliant manufacturing controls, and commitment to green chemistry principles to China’s dynamic and innovative pharmaceutical sector. This collaboration will strengthen China’s pharmaceutical supply chain, accelerate global integration, and deliver sustainable long-term value for our shareholders."
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