Biotech startup Bugworks Research has raised $7.5 million Series B funding lead by Japan-based University of Tokyo Edge Capital, Global Brain Corporation and with existing investor South Africa-based Acquipharma Holdings.
This announcement came when the world is struggling due to coronavirus pandemic which impacted the health system and economy of the globe, and according to WHO (World Health Organisation), there are more than 2.5 million confirmed cases.
According to Anand Anandkumar CEO & MD, While Covid-19 is of viral origin, many deaths also occur due to secondary bacterial infection, which are often drug-resistant. Bugworks’ drug candidate, a dual-target gyrase-topoisomerase inhibitor, supported by CARB-X since 2017, is a novel broad-spectrum agent targeting critical bacterial infections implicated in serious hospital, community and bio-threat indications”
He also added this current fund will be utilized to complete the first phase of clinical research of GYROX series intravenous drug, currently this drug is been researched in Bangalore laboratories, it will be very effective against bacterial superbugs, which are typically resistant to commonly-used antibiotics.”
Tomotaka Goji, Managing Partner and President said “UTEC led the Bugworks Series A in 2018, as we identified Antimicrobial Resistance (AMR) as one of the global issues of mankind, and facilitated Bugworks’ collaboration with Japanese ecosystem. Bugworks has thoroughly impressed us with their scientific rigour, pre-clinical data, business development progress, and commitment to saving lives. We are now proud to double down our investment in Bugworks”.
Bugworks Research is actively working on GYROX Series (1, 2, 3), GYROX-1 is for Intravenous for Critical care infections which is in Phase 1 Pre-clinical, GYROX-2 is for Oral for Hospital & community infections which is in Phase 1 Late Lead and GYROX-3 is for Oral for Cystic fibrosis patients which is also in Phase 1 Early Lead.
Bugworks Research was started in 2014 and is incubated in C-CAMP, Bangalore, with a core scientific team that comes with a combined experience of over 200 years in Infection Drug Discovery.
With this current funding now Bugworks Research has raised a total of $19 Million till now.
