Bugworks Research secures $18 mn funding led by Lightrock India, others

Bugworks Research, a clinical stage multi-indication therapeutics company, today announced the financing of $18 million in Series B1. This round will support the clinical development of BWC0977, a 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.

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, it said in a press statement.

The company also added recognized global thought leaders as investors, including Lord Jim O'Neill, the author of “The Review on Antimicrobial Resistance (AMR) 2016” and Dr Kiran Mazumdar-Shaw, Executive Chairperson and Founder, Biocon Limited.

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.”

“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”, said Ms Tejasvi Ravi who leads healthcare investments at Lightrock.

Yurimoto, Founder and CEO of Global Brain Corporation, one of Japan’s premier investment houses said, “We are extremely proud to partner with Bugworks, as the company invents new molecules to treat the worst infections and cancers.”

“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.

Published on: Wednesday, February 09, 2022, 11:44 AM IST