SAN DIEGO, July 05, 2016 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq:CDTX), a biotechnology company developing novel anti-infectives and immunotherapies to treat fungal and other infections, today announced the addition of Neil Abdollahian and Matt Onaitis to the executive management team. Mr. Abdollahian joins as Chief Business Officer and Mr. Onaitis will assume the role of Chief Financial Officer and General Counsel.
Previously, Mr. Abdollahian was Vice President of Corporate Development and Mr. Onaitis was General Counsel with Trius Therapeutics, where they were key members of the transaction team responsible for the acquisition of Trius by Cubist Pharmaceuticals in 2013. Most recently, Mr. Abdollahian served as Managing Director of the strategic advisory firm Clarity Point Partners and Mr. Onaitis was General Counsel and Secretary of Ignyta. Full biographies are available on the Cidara website http://www.cidara.com/about/management-team/. In connection with the addition of Messrs. Abdollahian and Onaitis to the executive management team, Kevin Forrest, Ph.D., founding CFO and COO of Cidara, will assume the role of Chief Strategy Officer where he will oversee the management of the Cloudbreak immunotherapy program as well as the expansion of the Cloudbreak and CD101 platforms into new therapeutic areas.
“We are privileged to have Neil and Matt join the Cidara management team,” said Jeffrey Stein, Ph.D., president and CEO of Cidara. “Their skill sets and experience will be complementary additions to the executive team as our continued advancement of the CD101 and Cloudbreak programs create strategic business opportunities for Cidara.”
About Cidara Therapeutics
Cidara is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel anti-infectives for the treatment of diseases that are inadequately addressed by current standard-of-care therapies. Cidara's initial product portfolio comprises two formulations of the company's novel echinocandin, CD101. CD101 IV is being developed as a once-weekly, high-exposure therapy for the treatment and prevention of serious, invasive fungal infections. CD101 topical is being developed for the treatment of vulvovaginal candidiasis (VVC) and the prevention of recurrent VVC (RVVC), a prevalent mucosal infection. In addition, Cidara has developed a proprietary immunotherapy platform, Cloudbreak™, designed to create compounds that direct a patient's immune cells to attack and eliminate pathogens that cause infectious disease. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the effectiveness, safety, long-acting nature, anticipated human dosing and other attributes of CD101 IV and CD101 topical, and their potential to treat infections, as well as the intended design of current and future Cloudbreak compounds. Risks that contribute to the uncertain nature of the forward-looking statements include: the success and timing of Cidara’s preclinical studies and clinical trials; regulatory developments in the United States and foreign countries; changes in Cidara’s plans to develop and commercialize its product candidates; Cidara’s ability to obtain additional financing; Cidara’s ability to obtain and maintain intellectual property protection for its product candidates; and the loss of key scientific or management personnel. These and other risks and uncertainties are described more fully in Cidara’s Form 10-Q most recently filed with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Cidara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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