# Worg

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/worg

- Industry: Biotechnology
- Headquarters: Shanghai, China
- Website: www.worgpharma.com/
- Total disclosed funding: $240M
- Latest round: Series D (Dec 22, 2025)
- Investors on record: 16

## About

Based in Shanghai, China and founded in 2018, Worg Pharmaceuticals (Zhejiang) Co., Ltd., trading as Worg, operates as a biopharmaceutical company that provides allergy and autoimmune disease products and treatment for allergy sufferers. In March 2021, WuXi Biologics became the strategic partner of the company to establish an allergy treatment platform. Aiwu Xu, the founder of the company, once served as the president and vice chairman of Porton Pharma Solutions Ltd and is a doctor in medicinal chemistry from the Shanghai Institute of the pharmaceutical industry. Jeffrey Su, the COO of the company, has 28 years of R&D experience in pharmaceutical companies and 26 years of experience in biopharmaceutical product development. In December 2025, Worg raised over CNY 300 million in series D+ led by returning investor PICC Capital Equity Investment and new investor LongRiver Investments, with participation from new investors Shenzhen Investment Holdings, Shandong New Kinetic Energy Fund, Hefei High-tech Venture Capital, Mingfeng Capital, returning investor Tsing Song Capital and other unspecified investors.

The company bases PCFiT and Apitope technology platforms to build R&D pipelines for allergy and autoimmune disease indications, including WP1048, WP1049, and WP1073. The PCFiT is for patients with allergic rhinitis, allergic conjunctivitis, and allergic asthma. The Apitope is for patients with autoimmune diseases such as multiple sclerosis, uveitis, myocarditis, and rheumatoid arthritis. In addition, it is also developing a molecular allergy diagnostic platform.

The company's revenue is generated revenue by providing allergy and autoimmune disease treatment products and diagnosis services.

The company will use the latest funding to advance global clinical trials of core products and accelerate the internationalization of commercialized products and pipelines under development.

## Funding rounds

- Series D, Dec 22, 2025 — PICC Capital Equity Investment, Shenzhen Investment Holdings, Hefei High-tech Venture Capital, Tsing Song Capital, Shandong New Growth Drivers Fund Management, LongRiver Investments
- Series D, Nov 20, 2024 — PICC Capital Equity Investment, Tsing Song Capital
- Series C, Jun 29, 2023, $152M — Detong Capital, Kangjun Capital, Kequan Venture Capital, Insight Capital, Baron, YSIM Fund
- Series B, Sep 14, 2022, $57M — Kaitai Capital, Junson Capital, Puhua Capital, Lapam Capital
- Series A, Jan 18, 2021, $31M — Kaitai Capital, Junson Capital, Puhua Capital

## Investors

- Kaitai Capital (https://capitalatlas.ai/funds/kaitai-capital) — Series A, Series B
- Junson Capital — Series A, Series B
- Puhua Capital (https://capitalatlas.ai/funds/puhua-capital) — Series A, Series B
- Lapam Capital (https://capitalatlas.ai/funds/lapam-capital) — Series B
- Detong Capital (https://capitalatlas.ai/funds/detong-capital) — Series C
- Kangjun Capital (https://capitalatlas.ai/funds/kangjun-capital) — Series C
- Kequan Venture Capital (https://capitalatlas.ai/funds/kequan-venture-capital) — Series C
- Insight Capital — Series C
- Baron — Series C
- YSIM Fund — Series C
- PICC Capital Equity Investment (https://capitalatlas.ai/funds/picc-capital-equity-investment) — Series D
- Tsing Song Capital (https://capitalatlas.ai/funds/tsing-song-capital) — Series D
- Shenzhen Investment Holdings — Series D
- Hefei High-tech Venture Capital (https://capitalatlas.ai/funds/hefei-high-tech-venture-capital) — Series D
- Shandong New Growth Drivers Fund Management (https://capitalatlas.ai/funds/shandong-new-growth-drivers-fund-management) — Series D
- LongRiver Investments (https://capitalatlas.ai/funds/longriver-investments) — Series D