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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