Jiangsu Wecare Pharma closes C3 funding round at US$27.5M

What's the deal? Jiangsu Wecare Pharma, a Chinese pharmaceutical company focused on innovative drug R&D and full-chain drug development services, has closed its C3 funding round at nearly US$27.5M (roughly $27M). Existing investor Hongcheng InvestmentDealroom has a profile for this one. Try Dealroom → led the round, with follow-on participation from Xinghe Ventures, Hangzhou Jinlong, Hongyao KechuangDealroom has a profile for this one. Try Dealroom →, and Huadian InvestmentDealroom has a profile for this one. Try Dealroom →. The company also brought in new investor Huafu Ruixing.

Why now? Wecare operates a dual-business model: it develops its own novel drugs while also providing pharmaceutical services across the entire value chain — from chemical drug R&D and generic drug technology licensing to the production and sale of pharmaceutical intermediates. The C3 designation suggests the company has been raising successive late-stage rounds, likely fuelling pipeline advancement and scaling its service platform.

The signal: Wecare's ability to close successive late-stage rounds — now at C3 — with strong follow-on from existing backers like Hongcheng Investment and Huadian Investment, both categorised as investment funds, underscores sustained conviction in its dual-revenue model at a time when many Chinese biotech startups struggle to raise beyond early growth. The repeat participation from multiple returning investors suggests Wecare's hybrid of proprietary R&D and full-chain services is delivering on milestones, reducing the dilution risk that typically dogs pure-play drug developers.

Read more: ITJuzi