Bugworks Research secures $9M in series A
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.