Candid Therapeutics, a San Diego, CA-based biotechnology company dedicated to developing potentially transformative drugs to address autoimmune diseases, raised $370M in funding.
The round was co-led by Venrock Healthcare Capital Partners, Fairmount, TCGX, and venBio Partners. Other healthcare investors included Foresite Capital, Third Rock Ventures, Fidelity Management & Research Company, Samsara BioCapital, Qiming Venture Partners USA, OrbiMed, Boxer Capital, Redmile Group, Vida Ventures, Two River, Franklin Templeton, LifeSci Venture Partners, Mirae Asset Capital Life Science, Polaris Innovation Fund, Soleus Capital and others.
Candid Therapeutics is a biotechnology company dedicated discovering and developing therapeutic programs that address unmet medical needs in immunology.
In addition to the funding, Candid acquired Vignette Bio and TRC 2004. This acquisition integrates two bispecific TCEs:
- CND106, a BCMAxCD3 bispecific antibody from Vignette Bio, which was initially founded by Foresite Labs who exclusively licensed ex-China rights for the drug candidate from EpimAb Biotherapeutics.
- CND261, a CD20xCD3 bispecific antibody from TRC 2004, which was established through a collaboration between Two River and Third Rock Ventures who exclusively licensed ex-China rights for the drug candidate from Genor Biopharma.
- CND106 and CND261 have both completed Phase 1 dose escalation studies with combined data in over 130 oncology patients. Both drug candidates have shown potential to become therapies for various autoimmune diseases.
The founding team of Candid includes:
- Ken Song
- Timothy Lu
- Bernie Huyghe
- Arvind Kush
FinSMEs
09/09/2024