Bugworks Research Inc., a start-up that is into clinical stage research for various therapeutics, has secured $18 million in a Series B funding round led by Lightrock India and various global investors . The company also counts Lord Jim O'Neill, the author of “The Review on Antimicrobial Resistance (AMR) 2016” and Kiran Mazumdar-Shaw, Executive Chairperson and Founder, Biocon Limited as its investors .
The University of Tokyo Edge Capital (UTEC) Japan, Global Brain Corporation in Japan, 3ONE4Capital India, Acquipharma Holdings S.A, I.M Holdings B.V. and Featherlite Group India were the other investors in the current financing round. Tejasvi Ravi, representing LightRock India will join the company’s Board of Directors. Bugworks said that the latest funds raise will support the clinical development of BWC0977, a novel broad spectrum anti-bacterial agent available in both IV and Oral forms, and the pre-clinical development of its best-in-class Adenosine immuno-oncology asset.
It further said that the company will continue to invest in its proprietary drug discovery platforms GYROX (for AMR) and DARE (for IO), and identify new drugs for serious, underserved indications.
Bugworks’ lead antibacterial asset BWC0977 continues to be supported by CARB-X, the global non-profit partnership dedicated to accelerating antibacterial research to tackle the global threat of drug-resistant bacteria, as per an official handout. “We are very excited about our lead clinical asset BWC0977 that is potentially the first novel truly broad-spectrum anti-bacterial drug in nearly five decades. We are very honored to welcome a syndicate of world class investors, who join our committed existing-investors in supporting our dual mission of combating AMR and hard to treat cancers,” Anand Anandkumar, Chief Executive Officer, Bugworks Research said. “It is a privilege to partner with Bugworks in solving the problem of antimicrobial resistance (AMR) which is fast becoming one of the most important global public health crises, with the best of Indian talent and technology. Their in-house platform coupled with a truly global execution network, puts Bugworks in a unique position to deliver pathbreaking solutions to combat antimicrobial resistance (AMR) and cancer”, said Tejasvi Ravi who leads healthcare investments at Lightrock.