DiCE Molecules, a South San Francisco, Calif.-based biopharmaceutical company leveraging its proprietary DNA-encoded library platform to discover and develop next-generation therapeutics in immunology, completed an $80m Series C financing.
The round was led by RA Capital Management with participation from new investors including Eventide Asset Management, New Leaf Venture Partners, Soleus Capital, Driehaus Capital Management, Osage University Partners and Asymmetry Capital Management. Existing investors Northpond Ventures, Sands Capital, Sanofi Ventures, Alexandria Venture Investments, Altitude Life Science Ventures and Agent Capital also participated.
Led by Kevin Judice, Ph.D., Chief Executive Officer, DiCE is a biotechnology company utilizing its proprietary DNA-encoded library (DEL) technology, combined with unique structural insights, to generate small molecule antagonists against a range of protein-protein-interface (PPI) targets.
Proceeds from the financing will support the progression of the company’s first-in-class, oral IL-17 antagonist into clinical trials, as well as enable the advancement and expansion of its preclinical portfolio of additional PPI antagonists. The IL-17 family of cytokines are strong inducers of inflammation and are implicated in a variety of autoimmune diseases including psoriasis, psoriatic arthritis and ankylosing spondylitis.
In connection with the financing, Jake Simson, Ph.D., will join the DiCE Board of Directors. As a Partner at RA Capital Management, Dr. Simson works on both public and private investments and serves as a Board Director for Xenikos, B.V., Tyra Biosciences and AavantiBio. He holds a B.S. in materials science and engineering from MIT and a Ph.D. in biomedical engineering from Johns Hopkins University.