Monday, June 30, 2014
Cidara Therapeutics Gets $32M
San Diego-based Cidara Therapeutics, a new, startup biopharmaceuticals firm working on treatments for severe fungal infections, has raised $32M in a Series A funding. The funding was led by 5AM Ventures, Aisling Capital, Frazier Healthcare and InterWest Partners, as well as un-named institutional investors. According to the company, it is working on a long acting echinocandin antifungal drug which is being targeted at use in fighting severe fungal infections in immune compromised patients. The company said it has appointed Jeffrey Stein--former CEO of Trius Therapeutics--as its new President and CEO. The company was co-founded by Kevin Forrest (5AM Ventures), Kevin Judice (Acahogen Pharmaceuticals) and H. Shaw Warren (Harvard University, Massachusetts General Hospital).