Bengaluru-based biotech startup, Bugworks Research is going to receive the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) funding. Launched in July 2016, CARB-X helps to address the gap in antibiotic R&D and innovations to improve diagnosis and treatment of drug-resistant infections. According to the reports, this is CARBX’s second round of antibiotic R&D funding.
CARB-X is a partnership between UK-based charity Wellcome Trust and the US Department of Health and Human Services Biomedical Advanced Research and Development Authority, part of the Office of the Assistant Secretary for Preparedness and Response, and the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health. The company which will use the funding to fuel the startup’s antibiotic research and development is the only firm in Asia to receive the funding.
Commenting on the development, V Balasubramanian, president, Bugworks and a principal investigator from Bugworks on the CARB-X grant said, “Being awarded the CARB-X grant vindicates our deep-seated belief that world class drug-discovery, innovation and execution can happen out of India. The fact that this grant focuses on the global unmet medical need of developing new antibiotics against superbugs, an area which has seen no new antibiotics in several decades, should intensify our efforts even further.”
Apart from Bugworks, six other companies from around the world received the grant. This funding is part of an overall commitment of up to $455 million by the US government and Wellcome over a five-year period.
The firm will receive an initial investment of $2.6 million and can also potentially receive a further $3.6 million, given that it fulfils the set milestones. Bugworks is working on developing a way to beat bacterial drug-resistance that allows for the development of novel antibiotics to counter the threat of superbugs, bacteria that have become resistant to antibiotic drugs.
CARB-X is a partnership between UK-based charity Wellcome Trust and the US Department of Health and Human Services Biomedical Advanced Research and Development Authority, part of the Office of the Assistant Secretary for Preparedness and Response, and the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health. The company which will use the funding to fuel the startup’s antibiotic research and development is the only firm in Asia to receive the funding.
Commenting on the development, V Balasubramanian, president, Bugworks and a principal investigator from Bugworks on the CARB-X grant said, “Being awarded the CARB-X grant vindicates our deep-seated belief that world class drug-discovery, innovation and execution can happen out of India. The fact that this grant focuses on the global unmet medical need of developing new antibiotics against superbugs, an area which has seen no new antibiotics in several decades, should intensify our efforts even further.”
Apart from Bugworks, six other companies from around the world received the grant. This funding is part of an overall commitment of up to $455 million by the US government and Wellcome over a five-year period.
The firm will receive an initial investment of $2.6 million and can also potentially receive a further $3.6 million, given that it fulfils the set milestones. Bugworks is working on developing a way to beat bacterial drug-resistance that allows for the development of novel antibiotics to counter the threat of superbugs, bacteria that have become resistant to antibiotic drugs.
Advertisements