This funding will advance highly differentiated assets in the two areas of antimicrobial resistance (AMR) and immuno-oncology (IO)
BANGALORE, India, SARATOGA, Calif. and ADELAIDE, Australia, February 9, 2022 /PRNewswire/ — Bugworks Research, a clinical-stage, multi-indication therapeutic company, today announced funding for US$18 million B1 series. This cycle will support the clinical development of BWC0977, a novel broad-spectrum antibacterial agent available in IV and oral form, and best-in-class preclinical development Adenosine immuno-oncology active. Bugworks will continue to invest in its proprietary drug discovery platforms GYROX (for AMR) and DARE (for IO), and identify new drugs for serious and underserved indications. Bugworks’ lead antibacterial asset, BWC0977, continues to be supported by CARB-X, the global nonprofit partnership dedicated to accelerating antibacterial research to combat the global threat of drug-resistant bacteria.
The Series B1 funding was led by Lightrock India and included existing investors the University of Tokyo Edge Capital (UTEC) Japan, Global Brain Corporation in Japan, 3ONE4Capital India, Acquipharma Holdings SA, IM Holdings B.V.. and Featherlite Group India. Tejasvi Ravi, LightRock India representative will join the company’s board of directors.
The company is also deeply honored to add recognized global thought leaders as investors, including Lord Jim O’Neillthe author of “The review of antimicrobial resistance (RAM) 2016″ and dr. Kiran Mazumdar-Shaw, EExecutive Chairman and Founder, Biocon Limited.
Anand AnandkumarCEO, Bugworks Research noted, “We are very excited about our clinical lead BWC0977, which is potentially the first new broad-spectrum antibacterial drug in nearly five decades. We are very honored to welcome a syndicate of world-class investors, who join our existing investors committed to supporting our dual mission of fighting AMR and hard-to-treat cancers.”
“It is a privilege to partner with Bugworks to address the problem of Antimicrobial Resistance (AMR) which is rapidly becoming one of the world’s most significant public health crises, with the best of Indian talent and technology. Their in-house platform coupled with a truly global execution network, places Bugworks in a unique position to deliver breakthrough solutions in the fight against Antimicrobial Resistance (AMR).) and cancer,” said Mrs Tejasvi Ravi who leads healthcare investments at Lightrock.
Commenting on the investment in Bugworks, Mr. Yurimoto, Founder and CEO of Global Brain Corporation, one of from Japan the first investment houses declared, “We are extremely proud to partner with Bugworks, as the company invents new molecules to treat the worst infections and cancers. Bugworks is a unique company within our portfolio, which is focused on innovation in biotechnology and life . sciences, which can change the world forever.”
“I am very excited to join this investment round and to remain committed to one of the most innovative and agile drug discovery startups in the world. India, which focuses on an issue of global importance, antimicrobial resistance; a silent pandemic with devastating consequences,” noted dr. Kiran Mazumdar-ShawCMD Biocon. “Their new immuno-oncology program also validates the promise and potential of early-stage innovation in India in the world!”
Important Notes to Editors
Certain research reported in this press release is supported by CARB-X. CARB-X funding for this project is sponsored by ASPR/BARDA Cooperative Agreement Number IDSEP160030 and awards from Wellcome Trust and germany Federal Ministry of Education and Research. The content is the sole responsibility of the authors and does not necessarily represent the official views of CARB-X or any of its funders.
Bugworks Research Inc, (Bugworks), is a clinical-stage biopharmaceutical company developing novel therapeutic assets in the areas of anti-infectives and immuno-oncology (IO) using innovative science at the frontiers of computational biology, pharmacology, structural biology and medicinal chemistry. BWC0977 is currently in a Phase 1 clinical trial and aims to address the unmet needs of serious hospital and community infections and bacterial biothreats. Its strength for OI is in the intermediate preclinical stage, targets several cancers and should be used alone or in combination with immune checkpoint therapies.
For more information, visit www.bugworksresearch.com