Biopharma startup Bugworks Research Inc has raised $7.5 million in a fresh funding round, led by the University of Tokyo Edge Capital (UTEC) Japan and Global Brain Corporation (Global Brain) Japan, along with Acquipharma Holdings, South Africa.
The latest round takes the Bengaluru and Delaware-based startup’s total funding to $19 million to date, it said in a statement Wednesday.
The corpus raised will enable Bugworks to complete phase 1 studies for its GYROX series intravenous drug candidate, as well as advance an oral lead towards clinical development, the statement added.
“As witnessed with COVID-19, infectious diseases are threatening human existence. AMR (antimicrobial resistance) is a serious issue and Global Brain regards this as a big unmet medical need. We consider India to be an important region, both from innovation and market perspective and are hence accelerating our investment activity in India,” said Yasuhiko Yurimoto, Founder-CEO & General Partner Global Brain.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from April 17-April 23, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Bugworks Research||Bengaluru, Delaware||7.5 million||-||University of Tokyo Edge Capital (UTEC) Japan, Brain Corporation Japan, Acquipharma Holdings||-||Biotechnology|
|Bijak||Gurugram||12 million||Series A||RTP Global||Surge Ventures, Omidyar Network, AL Trust, Tempo Ventures, Omnivore Partners||AgTech|
|YAP||Chennai||4.5 million||Series A||BEENEXT||8i Ventures Fund, The Sparkle Fund, Better Capital, Alok Mittal, Ashneer Grover, Amrish Rau, Jitendra Gupta, Abhishant Pant||FinTech|
|Mindhouse||Gurugram||677,083||-||Pankaj Chaddah||Anand Chandrasekaran, Sahil Barua, Karan Singh, Ambarish Raghuvanshi||Health & Wellness|