Bug­works Re­search se­cures $9M in se­ries A

BioSpectrum (India) - - START-UP NEWS -

Ben­galuru and Delaware-based drug dis­cov­ery startup Bug­works Re­search has raised $9 mil­lion in se­ries A fund­ing led by Uni­ver­sity of Tokyo Edge Cap­i­tal (UTEC). UTEC is an early-stage tech­nol­ogy-fo­cused in­vest­ment firm. It in­vests in early-stage star­tups help­ing the global so­ci­ety through in­no­va­tion. The firm has around $500 mil­lion un­der man­age­ment.

Other in­vestors that par­tic­i­pated in the round in­clude South Africa-based Ac­quipharma Hold­ings, 3one4 Cap­i­tal, along with an­gels Mar­cus Sch­abacker, for­mer chief strate­gic of­fi­cer of Bax­ter Health­care, Shriku­mar Surya­narayan, for­mer head of re­search and de­vel­op­ment, Bio­con.

The funds raised will be used to boost its clin­i­cal tri­als to test the ef­fi­ciency of its drugs. Bug­works Re­search aims to com­bat drug-re­sis­tant su­per­bugs by in­vent­ing an­tibi­otics that will be ef­fec­tive in com­bat­ing the an­timi­cro­bial re­sis­tance.

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