DiCE Molecules Announces $60 Million Series C-1 Financing
SAN FRANCISCO--(BUSINESS WIRE)-- DiCE Molecules SV, Inc., a biopharmaceutical company leveraging its proprietary DNA-encoded library platform to discover and develop next-generation therapeutics in immunology and other therapeutic areas, today announced the completion of its $60 million Series C-1 financing. The financing was led by RA Capital Management and Sands Capital, with participation from new investors Janus Henderson Investors, Deep Track Capital and Logos Capital. Existing investors Northpond Ventures, Eventide Asset Management, Driehaus Capital Management, Soleus Capital, New Leaf Venture Partners, Osage University Partners and Asymmetry Capital Management also participated in the round. With the closing of this Series C-1 financing round, the Company has raised approximately $200 million to date.
Proceeds of the financing are expected to be used to support advancement of the Company’s preclinical IL-17 antagonist franchise into clinical development, advancement of preclinical α4ß7 and αVß1/αVß6 integrin programs, pipeline expansion and other general corporate purposes.
About DiCE Molecules
DiCE Molecules is a biopharmaceutical company leveraging its proprietary technology platform to build a pipeline of novel oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas. DiCE Molecules is initially focused on developing oral therapeutics against well validated targets in immunology, with the goal of achieving comparable potency to their systemic biologic counterparts, which have demonstrated the greatest therapeutic benefit to date in these disease areas. The Company’s DELSCAPE platform is designed to discover selective oral small molecules with the potential to modulate protein-protein interactions (PPIs) as effectively as systemic biologics.
DiCE Molecules’ lead therapeutic candidate, S011806, is an oral antagonist of the pro-inflammatory signaling molecule, interleukin-17 (IL-17), which is a validated drug target implicated in a variety of immunology indications. DiCE Molecules is also developing oral therapeutic candidates targeting α4ß7 integrin and αVß1/αVß6 integrin for the treatment of inflammatory bowel disease and idiopathic pulmonary fibrosis, respectively.
For additional information, please visit www.dicemolecules.com.
Katie Engleman, 1AB
Source: DiCE Molecules