Seachaid Pharmaceuticals-backed Cidara, which is developing therapies to treat fungal infections, has raised $74m in the past two years.

US-based biotechnology company Cidara Therapeutics, which has developed therapies to treat fungal infections and is backed by therapeutics developer Seachaid Pharmaceuticals, filed for a $69m initial public offering on Friday.

Founded in 2012, Cidara specialises in anti-infective drugs for diseases that remain largely unaddressed by the pharmaceutical industry, based on its immunotherapy platform, Cloudbreak.

Cloudbreak enables researchers to create anti-fungal, anti-bacterial and anti-viral treatments that make a patient’s own immune cells attack and destroy pathogens at the origin of an…