DICE Therapeutics, a Phase 1-ready biotech developing oral small molecule therapies for chronic immunologic diseases, filed on Wednesday with the SEC to raise up to $100 million.
DICE is leveraging its proprietary technology platform, which it refers to as DELSCAPE, to build a pipeline of novel oral candidates to treat chronic diseases in immunology and other therapeutic areas. Its lead 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. The company filed a Clinical Trial Application with the Medicines and Healthcare Products Regulatory Agency in the UK for S011806 in July 2021 and plans to initiate a Phase 1 trial in healthy volunteers and psoriasis patients.
The South San Francisco, CA-based company was founded in 2013 and booked $2 million in collaboration revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol DICE. BofA Securities, SVB Leerink, and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
