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§ Private Profile · San Francisco, CA, USA
A small molecule drug discovery company developing novel therapeutics for immunology and cancer, utilizing DNA-encoded libraries.
DICE Therapeutics is a South San Francisco, California-based small molecule drug discovery company specializing in novel oral therapeutic candidates for immunology and cancer markets. Operating as a subsidiary of Eli Lilly following a strategic acquisition, the firm utilizes directed evolution technology applied to DNA-encoded libraries to identify chemical compounds for complex disease targets. Before transitioning from an independent public entity, the enterprise filed for an initial public offering with a target of approximately $100 million to fund its clinical pipeline. The organization's research initiatives primarily focus on addressing severe autoimmune conditions, with specific developmental programs extending into treatments for inflammatory bowel disease. The executive leadership team draws on prior senior management and scientific roles at notable biotechnology corporations such as Genentech, Theravance, and Achaogen. DICE Therapeutics was founded in 2013 by J. Kevin Judice.
Dice Therapeutics has raised $140.0M across 2 funding rounds.
Dice Therapeutics has raised $140.0M in total across 2 funding rounds.
DICE Therapeutics, Inc. is a biopharmaceutical company developing oral small-molecule therapeutics for chronic immunology diseases using its proprietary DELSCAPE platform. This platform enables discovery of selective oral molecules that modulate protein-protein interactions as effectively as biologics. Its lead candidate, DC-806 (also known as simepdekinra), is an oral IL-17 antagonist targeting plaque psoriasis and other autoimmune conditions in Phase 2 trials, while others like DC-853 and integrin inhibitors address inflammatory bowel disease and idiopathic pulmonary fibrosis.[1][2][5] The company serves patients with chronic inflammatory diseases, solving the problem of delivering biologic-like efficacy via convenient oral drugs rather than injections. Founded in 2013 and headquartered in South San Francisco, California, DICE went public in 2021 but was acquired by Eli Lilly and Company in 2023 for $2.4 billion, operating now as its subsidiary with ongoing pipeline momentum.[1][3][4]
DICE Therapeutics was founded in 2013 in South San Francisco, California, initially as Dice Molecules Holdings, LLC, focusing on its DELSCAPE platform for oral small-molecule discovery.[1][4] The founders leveraged expertise in protein modulation to emerge from stealth with a pipeline targeting validated immunology targets like IL-17, initially building early traction through preclinical advancements and an IPO in September 2021 on NASDAQ (ticker: DICE), raising $204 million at $17 per share.[4] Key pivotal moments included advancing DC-806 into clinical stages and the transformative 2023 acquisition by Eli Lilly, which provided resources to accelerate development amid promising Phase 1 data for oral IL-17 inhibitors.[1][3]
DICE rides the trend of oral biologics mimics in immunology, where small molecules offer advantages over injectables amid rising autoimmune disease prevalence driven by aging populations and lifestyle factors.[1][2] Timing aligns with post-2020 biotech investment resurgence and big pharma's push for pipeline diversification beyond GLP-1s, as seen in Eli Lilly's acquisition to bolster immunology beyond obesity drugs.[3] Market forces favoring DICE include biologics' limitations (e.g., adherence issues) and IL-17's validation via approved injectables like secukinumab, positioning oral versions for market share gains. As a Lilly subsidiary, DICE influences the ecosystem by accelerating oral therapy adoption, potentially reshaping treatment paradigms for chronic inflammation.[1][5]
With Eli Lilly's backing, DICE's pipeline—led by Phase 2 DC-806—could yield first oral IL-17 approvals by late 2020s, expanding into IBD and fibrosis amid growing demand for convenient immunology therapies.[1][5] Trends like AI-driven drug design and precision medicine will shape progress, amplifying DELSCAPE's edge. Its influence may evolve from standalone innovator to key Lilly immunology pillar, driving blockbuster potential and reinforcing oral small molecules' role in chronic disease management—echoing its origins as a platform pioneer now scaled globally.[3]
Dice Therapeutics has raised $140.0M across 2 funding rounds. Most recently, it raised $60.0M Series C in August 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2021 | $60M Series C | RA Capital Management, Sands Capital | Samsara BioCapital, Versant Ventures, Asymmetry Capital Management, Deep Track Capital, Driehaus Capital Management, Eventide Asset Management, Janus Henderson Investors, Logos Capital, NEW Leaf Venture Partners, Northpond Ventures, Osage University Partners, Soleus Capital | Announced |
| Jan 1, 2021 | $80M Series C | Jake Simson | Samsara BioCapital, Versant Ventures, Agent Capital, Alexandria Venture Investments, Altitude Life Science Ventures, Asymmetry Capital Management, Driehaus Capital Management, Eventide Asset Management, NEW Leaf Venture Partners, Northpond Ventures, Osage University Partners, Sands Capital, Sanofi Ventures, Soleus Capital | Announced |
Dice Therapeutics has raised $140.0M in total across 2 funding rounds.
Dice Therapeutics's investors include RA Capital Management, Sands Capital, Samsara BioCapital, Versant Ventures, Asymmetry Capital Management, Deep Track Capital, Driehaus Capital Management, Eventide Asset Management, Janus Henderson Investors, Logos Capital, New Leaf Venture Partners, Northpond Ventures.