Healthcare Industry News: immunotherapy
News Release - February 11, 2015
Cidara Therapeutics Completes $42 Million Private Series B FinancingProceeds Will Advance Novel Anti-Infectives into Clinical Studies
SAN DIEGO--(Healthcare Sales & Marketing Network)--Cidara Therapeutics, Inc., a biotechnology company developing novel anti-infectives and immunotherapies to treat fungal and other infections, announced today the completion of a $42 million private Series B financing. Participants in the financing comprise a syndicate of healthcare-dedicated institutional investors and include both new and existing investors in Cidara.
“We appreciate the support and confidence demonstrated by our new and existing investors in this round,” said Jeff Stein, Ph.D., chief executive officer of Cidara. “Proceeds from the financing will enable us to accelerate the development of our echinocandin antifungal programs, biafungin and topifungin, as well as our immunotherapy platform, Cloudbreak™, which, we believe, may represent a fundamentally new approach to the treatment of infectious diseases.”
About Cidara Therapeutics
Cidara is a privately held biotechnology company focused on the discovery, development and commercialization of novel anti-infectives for the treatment of diseases that are inadequately addressed by current standard-of-care therapies. Cidara’s initial portfolio is comprised of long-acting echinocandin antifungal product candidates, biafungin and topifungin, for the treatment of serious fungal infections. In addition, Cidara 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. Cidara is headquartered in San Diego, California.
Source: Cidara Therapeutics
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