Jiangsu Vcare Secures Over CNY 450 Million in Series C Funding
Published Time:
2024-01-02 17:34
Source:
Recently, Jiangsu Vcare Pharmatech Co., Ltd. (Jiangsu Vcare) closed its Series C financing round, raising over CNY 450 million. The investment consortium included China Life Private Equity Investment, DYEE Capital, Hongyao Technology Capital, existing investor Nanjing Innovation Capital Group, and Hangzhou Huadian Investment. The participation of new investors alongside continued support from existing shareholders demonstrates strong market confidence in Jiangsu Vcare’s growth trajectory. Proceeds will accelerate the advancement of its innovative drug pipeline and strengthen its integrated CRO/CDMO services across the pharmaceutical value chain.
The successful Series C closing amid challenging market conditions underscores Jiangsu Vcare’s robust development potential and competitive advantages. Since its inception, the company has pursued a dual-core strategy: proprietary innovative drug development and comprehensive CRO/CDMO services. This approach prioritizes independent innovation and client-centric solutions. Currently, both business pillars demonstrate rapid growth: Multiple clinical-stage drug candidates approaching key milestones; Sustained expansion of CRO/CDMO business; Established a fortified competitive "moat" through differentiated products, technologies, and services; With robust investor backing, Jiangsu Vcare is positioned to achieve high-quality development.
Dr. Gong Yanchun, Co-founder and CEO, stated: "We view financing not merely as capital-raising, but as forging a shared-destiny partnership with values-aligned, committed, and professional collaborators to achieve meaningful impact. Securing this round during the industry-wide 'winter' reflects capital markets’ recognition of Vcare’s team and vision. At this new developmental stage, we remain steadfastly focused on our dual-core strategy. Through differentiated approaches and by seizing policy and market opportunities, we will advance courageously and steadily in innovative drug R&D and pharmaceutical services. While accelerating our own high-quality growth, we are committed to contributing to the pharmaceutical industry’s sustainable advancement."
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