Cidara buys back flu rights, sells antifungal and inks $240M PIPE
Cidara Therapeutics announced several sweeping moves on Wednesday afternoon to bring an influenza drug back in-house and raise money from investors to back the program.
The San Diego biotech said it will reacquire the flu drug candidate, CD388, from Johnson & Johnson after a deal with the drug giant three years ago. J&J bet $27 million upfront on the program, plus milestones, at a time when the pharma company was rolling out its Covid-19 vaccine and the industry was looking at treating other viruses. Cidara says it thinks that CD388 can prevent “all strains of influenza A and B.”
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