Abstract: Barks of Caesalpinia pulcherrima yielded a glycoside, Lathyrol-3-phenylacetate-5,15-diacetate (CP-2). The compound, CP-2, showed significant antibacterial and antifungal effects. The minimum inhibitory concentration (MIC) of CP-2 against Bacillus cereus and Shigella dysenteriae was determined and the values were 64 and 32 μg ml-1, respectively. The cytotoxicity of CP-2 was determined by brine shrimp lethality bioassay and LC50 value was 5.39 μg ml-1. The mortality rate by the compound with highest concentration suggests the drug to be used at highest doses and also suitable for further clinical trial.