On January 8, 2021, DiCE Molecules, a biopharmaceutical company leveraging its proprietary DNA-encoded library platform to discover and develop next-generation therapeutics in immunology, announced the completion of an $80 million Series C financing. The financing 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. Wilson Sonsini Goodrich & Rosati advised DiCE Molecules on IP matters related to the transaction.

DiCE’s drug discovery platform leverages a proprietary DNA-encoded library 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.

The Wilson Sonsini team that advised DiCE Molecules on IP matters related to the transaction includes Michael Hostetler, Julia Minitti, and Luis Perla.

For more information, please see DiCE Molecules' press release.