Cidara Therapeutics, Inc., a San Diego, California-based biotechnology company developing novel anti-infectives and immunotherapies to treat fungal and other infections, completed a $42m Series B financing.
Participants in the financing comprise a syndicate of healthcare-dedicated institutional investors and include both new and existing investors.
The company intends to use the funds to accelerate the development of its echinocandin antifungal programs, biafungin and topifungin, as well as its immunotherapy platform, Cloudbreak™.
Led by Jeff Stein, Ph.D., chief executive officer, Cidara focuses on the discovery, development and commercialization of novel anti-infectives for the treatment of diseases that are inadequately addressed by current therapies. Its initial portfolio is comprised of long-acting echinocandin antifungal product candidates, biafungin and topifungin, for the treatment of serious fungal infections. In addition, it has developed a proprietary immunotherapy platform, CloudbreakTM, designed to create antifungals, antibacterials and antivirals that direct a patient’s immune cells to attack and eliminate pathogens that cause infectious disease.