Bugworks, a US, Australian, Bengaluru-based company raised $18 million in Series B1 funding. It’s a clinical-stage multi-indication therapeutics startup. The round was led by Lightrock India along with existing investors listed- The University of Tokyo Edge Capital (UTEC) Japan, Global Brain Corporation in Japan, 3ONE4Capital India, Acquipharma Holdings SA,and many others.
The company is a clinical-stage biopharmaceutical company. Bugworks was founded in February 2014. The company deals in developing novel therapeutic assets in the anti-infectives and immuno-oncology (IO) areas utilizing innovative science from the frontiers of computational biology, pharmacology, structural biology, and medicinal chemistry. Lightrock will join the company’s board of directors which is represented by Tejasvi Ravi.
In a statement, Anand AnandKumar, CEO of Bugworks Research, said, “We are very excited about our lead clinical asset BWC0977 that is potentially the first novel truly broad-spectrum antibacterial 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.”
The funding will be utilized in various ways:
- Clinical development of BWC0977,
- Novel board spectrum antibacterial drug,
- Pre-clinical development of Adenosine immune-oncology-IO, and
- Identification of new drug.
The leading product of the company BWC0977 is supported by CARB-X that helps in tackling the global threat of drug-resistant bacteria.
“I am very pleased to join this investment round and to stay committed to one of the most innovative and nimble drug discovery startups from India, which is focusing on an issue of global significance, AMR; a silent pandemic with devastating consequences,” said Dr. Kiran Mazumdar-Shaw, CMD, Biocon.
Bugworks is a clinical-stage biopharmaceutical company founded in February 2014, developing novel therapeutic assets in the anti-infectives and immuno-oncology (IO) areas using innovative science from the frontiers of computational biology, pharmacology, structural biology, and medicinal chemistry.
