Osage University Partners has contributed to an $80m round for Dice Molecules, which is advancing Stanford University research and is also backed by Sanofi and Alexandria.
Dice Molecules, a US-based biopharmaceutical spinout of Stanford University, closed an $80m series C round on Friday featuring spinout-focused investment firm Osage University Partners.
RA Capital Management led the round, which also attracted Sanofi Ventures and Alexandria Venture Investments on behalf of pharmaceutical firm Sanofi and real estate investment trust Alexandria Real Estate Equities.
Eventide Asset Management, New Leaf Venture Partners, Soleus Capital, Driehaus Capital Management, Asymmetry Capital Management, Northpond Ventures, Sands Capital, Altitude Life Science Ventures and Agent Capital completed the group of backers.
Founded in 2014, Dice Molecules has developed a drug discovery platform leveraging technology dubbed DNA-encoded library, which it hopes will make it possible to target a range of conditions with oral treatments rather than requiring injections.
Its lead asset targets IL-17, which induces inflammation and plays a role in autoimmune conditions such as psoriasis. The funding will allow Dice Molecules to advance the potential therapy into clinical trials and support the development of the preclinical portfolio.
Jake Simson, a partner at RA Capital Management, will join Dice’s board of directors.
Dice obtained $50m in equity funding, fees and research services from Sanofi in 2016 as part of a collaboration agreement.
Regulatory filings indicate Dice also secured $4m in 2015 and $40.5m in 2018. Sanofi Ventures, Northpond Ventures, Sands Capital, Alexandria Venture Investments, Altitude Life Science Ventures and Agent Capital were all identified as returning backers for the series C round, but further details could not be ascertained.
