Bugworks Research gets $18mn funding as it scales up clinical research

Bugworks Research, a therapeutics company, on Wednesday announced it got $18 million financing in a funding round.

The Series B1 financing 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 S.A, I.M Holdings B.V. and Featherlite Group India. Tejasvi Ravi, representing LightRock India will join the company’s Board of Directors. Kiran Mazumdar-Shaw, executive chairperson and founder of Biocon, is among the individual investors in the company.

This funding will support the company in its clinical development of BWC0977, a broad-spectrum anti-bacterial agent. Bugworks said it will continue to invest in its proprietary drug discovery platforms. Bugworks’ top antibacterial asset BWC0977 is supported by CARB-X, a global non-profit partnership dedicated to accelerating antibacterial research.

Anand Anandkumar, Chief Executive Officer, Bugworks Research said, “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”.

“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.

Yasuhiko Yurimoto, founder and CEO of Global Brain Corporation, a Japanese investment houses said, “Bugworks is a unique company within our portfolio, focusing on innovation in biotech and life sciences, which can change the world forever.”

“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 Kiran Mazumdar-Shaw.