Candid Therapeutics Debuts with $370M Capital Raise to Clinically Evaluate Potentially Transformative Autoimmune Therapies
Summary
None Timothy Lu, MD, PhD as Chief Medical and Scientific Officer was instrumental in the clinical development of novel oral IL-17 drugs for autoimmune diseases at DICE Therapeutics which was acquired last year by Eli Lilly, where he stayed on until joining the Candid team. None Arvind Kush as Chief Financial and Business Officer has had an illustrious career first as a managing director in healthcare banking at Bank of America before transitioning to RayzeBio as CFO where he navigated a highly successful oversubscribed IPO in September 2023.In conjunction with the merger, Candid has successfully raised over $370 million in capital from an extensive roster of investors, which includes a recently completed financing co-led by Venrock Healthcare Capital Partners, Fairmount, TCGX, and venBio Partners. This substantial financial backing highlights strong investor confidence in Candids purposeful approach and strategic vision, positioning the company for significant impact in bringing forth first-in-class therapies to patients with autoimmune diseases. "TCE antibodies have the most promise as scalable and patient friendly drugs to deplete B cells for treatment of a myriad of autoimmune conditions and represents a once in a generation development opportunity," said Dr. Ken Song, Chairman, President, and CEO of Candid Therapeutics. Supported by a distinguished syndicate of leading healthcare investors, Candid is committed to discovering and developing cutting-edge therapeutic programs that address significant unmet medical needs in immunology.Vignette Bio was formed in 2024.