PR94408

Bugworks Research Inc. Secures US$18M Series B1 Funding from Reputed Global Investor Syndicate (The EU, UK, Japan, South Africa & India), led by Lightrock India

BANGALORE,SARATOGA, Calif. and ADELAIDE, Australia, Feb. 9, 2022 /PRNewswire=KYODO JBN/--

    This Funding will advance highly differentiated assets in the dual areas of

Antimicrobial Resistance (AMR) and Immuno-Oncology (IO)

    Bugworks Research, a clinical stage multi-indication therapeutics company,

today announced the financing of US$18M Series B1. This round 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. Bugworks 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.

    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.

    The company is also deeply honored to add 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. 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 Ms 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 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. 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 Dr. Kiran Mazumdar-Shaw, CMD Biocon. "Their new

program in the Immuno-Oncology space also validates the promise and potential

of early-stage innovation from India to the world!"

    Important Notes to Editors

    Some research reported in this press release is supported by CARB-X.

CARB-X's funding for this project is sponsored by the Cooperative Agreement

Number IDSEP160030 from ASPR/BARDA and by awards from Wellcome Trust and

Germany's Federal Ministry of Education and Research. The content is solely the

responsibility of the authors and does not necessarily represent the official

views of CARB-X or any of its funders.

     About Bugworks

     Bugworks Research Inc, (Bugworks), is a clinical stage biopharmaceutical

company that is 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. BWC0977 is currently in a Phase 1 clinical trial and is targeted to

address unmet needs of serious hospital & community infections, and bacterial

biothreats. Its asset for IO is in the mid pre-clinical stage, targets multiple

cancers and is expected to be used either standalone or in combination with

immune checkpoint therapies.

     For further information, please visit: www.bugworksresearch.com

    Media Contact Information

    Concept Public Relations

    Archana Jain (archana@conceptindia.com/ +91-98455-41244)

    Pooja Balachandran (pooja.b@conceptpr.com/ +91-98456-92007)

    Photo: https://mma.prnewswire.com/media/1739011/Final_Bugworks_Founders.jpg

    Logo: https://mma.prnewswire.com/media/1491889/Bugworks_Logo.jpg

    Source: Bugworks