Candid Therapeutics closed $370M funding round

Candid Therapeutics has raised over $370 million in capital. The financing was co-led by Venrock Healthcare Capital Partners, Fairmount, TCGX, and venBio Partners. Participating 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, and Soleus Capital.

Candid Therapeutics is a biotechnology company focused on developing treatments for autoimmune diseases. The company launched in September 2024 and is headquartered in San Diego, CA. Candid Therapeutics acquired two companies, Vignette Bio and TRC 2004, along with their lead assets, CND106 and CND261, which are bispecific antibodies being repositioned from oncology to autoimmune indications. The company plans to advance these T-cell engagers, which have completed Phase 1 dose escalation studies in oncology, into clinical development for autoimmune diseases.