On October 17, 2022, DICE Therapeutics, Inc., 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, announced the closing of its previously announced upsized underwritten public offering of 9,452,054 shares of its common stock, including the full exercise of the underwriters’ option to purchase 1,232,876 additional shares, at a public offering price of $36.50 per share. All shares of common stock were offered by DICE Therapeutics. The gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $345.0 million. For more information about the offering, please see DICE Therapeutics’ news release.

In addition, on October 11, 2022, DICE Therapeutics announced positive topline data from its Phase 1 clinical trial of DC-806, an oral small molecule antagonist of the pro-inflammatory cytokine IL-17. The trial was a first-in-human, randomized, double-blind, placebo-controlled study designed to generate safety and pharmacokinetic (PK) data in healthy volunteers, as well as provide early clinical proof-of-concept in psoriasis patients.

Wilson Sonsini advised DICE Therapeutics on all patent matters related to the public offering and clinical trial. The team included Julia Minitti, Michael Hostetler, Josh Seitz, Lu Perla, and Andrew Waldeck.