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Fundraisings and IPOs

Date: 2017-07-25

Type of information: Grant

Company: Bugworks Research Inidia (India)

Investors: Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB - X) (USA - MA)

Amount: up to $ 6.2 million

Funding type: grant

Planned used:

  • In partnership with CARB-X, Bugworks Research is developing a novel first in class broad-spectrum antibiotic to kill multi-drug resistant Gram-negative bacteria that have been identified by the World Health Organization as critical and high priority infection threats. The lead compound, a Gyrase-topoisomerase inhibitor, is being developed as an intravenous and oral treatment for multi-drug resistant infections, with a low risk of developing resistance because it inhibits two essential targets in the replication machinery and has been designed to by-pass efflux resistance mechanism of the bacteria. In pre-clinical testing, Bugworks’ novel broad-spectrum antibiotics have demonstrated efficacy against deadly Gram-negative superbugs. Bugworks is based in Delaware, US, and operates its R&D facilities in Bangalore, India.
  • In February 2017, WHO  published its first ever list of antibiotic-resistant "priority pathogens" – a catalogue of 12 families of bacteria that pose the greatest threat to human health. The list was drawn up in a bid to guide and promote research and development (R&D) of new antibiotics, as part of WHO’s efforts to address growing global resistance to antimicrobial medicines. The list highlights in particular the threat of gram-negative bacteria that are resistant to multiple antibiotics. The WHO list is divided into three categories according to the urgency of need for new antibiotics: critical, high and medium priority.
  • – Priority 1: CRITICAL
  • Acinetobacter baumannii, carbapenem-resistant
  • Pseudomonas aeruginosa, carbapenem-resistant
  • Enterobacteriaceae, carbapenem-resistant, ESBL-producing
  • – Priority 2: HIGH
  • Enterococcus faecium, vancomycin-resistant
  • Staphylococcus aureus, methicillin-resistant, vancomycin-intermediate and resistant
  • Helicobacter pylori, clarithromycin-resistant
  • Campylobacter spp., fluoroquinolone-resistant
  • Salmonellae, fluoroquinolone-resistant
  • Neisseria gonorrhoeae, cephalosporin-resistant, fluoroquinolone-resistant
  • – Priority 3: MEDIUM
  • Streptococcus pneumoniae, penicillin-non-susceptible
  • Haemophilus influenzae, ampicillin-resistant
  • Shigella spp., fluoroquinolone-resistant

Others:

  • • On July 25, 2017, Bugworks Research India has been awarded up to $ 6.2 million non-dilutive funding from CARB-X, the world's largest public-private partnership devoted to antibacterial R&D. Bugworks Research Indiawas selected by CARB-X from a group of 368 applicants worldwide and is part of the first cohort that includes companies from Continental Europe. The award provides immediate funding of up to $2.6m with potential option payments up to $3.6m
  • CARB-X (Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator) is backed by the US Government – through the Biomedical Advanced Research and Development Authority (BARDA) and the National Institute of Allergy and Infectious Diseases (NIAID) - and the UK charity Wellcome Trust. It was launched in July 2016 to address the gap in antibiotic research and development and innovations to improve diagnosis and treatment of drug-resistant infections. CARB-X will spend up to $455 million from 2017-2021 to support innovative products from 'hit-to-lead' stage through to Phase 1 clinical trials. CARB-X focuses on high priority drug-resistant bacteria, especially Gram-negatives. This charitable global public-private partnership is led by Boston University.

Therapeutic area: Infectious diseases

Is general: Yes