RAVen’s Project Condor fights flu with Cidara

Cidara Therapeutics announced yesterday that RA Capital is leading an investment in the company to fund the reacquisition of CD388, a clinical-stage, long-acting antiviral for flu that we believe may have significant benefit for patients. We are proud to lead Cidara’s pivot to become a company focused on the clinical development of a truly impactful infectious disease program. 

The road to this investment has been long and complicated. Along the way, we learned much more than we ever expected about the legal and technical aspects of multiparty transactions involving multiple public companies and multiple potential investors and relied on the expertise and efforts of a truly amazing number of people across the firm. Cidara is the first of what we hope will be many such investments under our new approach to identifying and licensing on-the-shelf assets from biotech & pharma companies, which we call Project Condor.