Cidara secures $32 million in series A

Cidara Therapeutics Inc. (San Diego, Calif.) secured $32 million in a series A round led by 5AM Ventures; Aisling Capital; Frazier Healthcare; and InterWest Partners. Undisclosed institutional investors also participated. Aisling's Steven Elms, Frazier's Patrick Heron and InterWest's Nina Kjellson joined Cidara's board. Cidara's lead compound, biafungin, is in IND-enabling studies for invasive fungal infections, with Phase I testing slated to start next year. Cidara (formerly K2 Therapeutics Inc.) is evaluating the echinocandin antifungal to treat invasive Candida infections and as prophylaxis in patients with a high risk of fungal infection. ...