Candid Therapeutics said Monday it has raised $370 million and acquired a pair of companies in its quest to develop treatments for autoimmune diseases. The San Diego-based company is led by Ken Song, whose former company RayzeBio was acquired in January by Bristol Myers Squibb for $3.87 billion. Candid recently acquired Vignette Bio and TRC 2004, both developers of antibody drugs in clinical trials. Venrock, Fairmount, TCGX and VenBio Partners co-led Candid’s round. The company didn’t disclose its valuation. Foresite Capital, which in June launched a $900 million VC fund at the intersection of AI and healthcare, also participated.
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Source: https://pitchbook.com/news/articles/candid-therapeutics-launches-370-million-biopharma