A Bengaluru and Delaware-based drug discovery company called Bugworks Research has reportedly raised $9 million (about Rs 62.2 crore) in a Series A round of funding. This particular round was led by the University of Tokyo Edge Capital (UTEC).
The latest funding round also saw participation from South Africa-based Acquipharma Holdings, 3one4 Capital and angels including Marcus Schabacker, the former chief strategic officer of Baxter Healthcare, and Shrikumar Suryanarayan, former head of research and development at Biocon.
The funds so raised will be used by the company to deepen its clinical trials.
“The company, in three years, has invented a novel class of antibiotics for superbugs. We have completed several animal tests. The plan is to enter human trials by 2020,” said Anand Anandkumar, CEO, Bugworks Research.
Bugworks Research is a biopharma company that aims to discover novel pharmaceutical assets for combating Antimicrobial Resistance (AMR). It manufactures antibiotics that can withstand drug resistance issues.
The company is presently working on developing a way to beat bacterial drug resistance that allows for the development of novel antibiotics to counter the problem of superbugs or bacteria that have become resistant to antibiotic drugs.