Yurimoto sees Bugworks invents new molecules to treat worst infections and cancers
Bugworks Research, a clinical stage multi-indication therapeutics company, says US$18 million Series B1 funding 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
The 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.
“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,” Bugworks Research CEO Anand Anandkumar said on 9 Feb 2022.
“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,” said Yasuhiko Yurimoto, Founder and CEO of Global Brain Corporation, one of Japan’s premier investment houses.
“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.
Tejasvi Ravi, representing LightRock India, will join the Board of Directors at Bugworks which has offices in California and Adelaide as well as Center for Cellular & Molecular Platforms at National Center for Biological Sciences in Bangalore.
“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!”
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.
Bugworks Research Inc 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 medicinal chemistry. BWC0977 is currently in 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. fiinews.com
