Dicerna announces closing of $25 million Series B round of financing

Dicerna Pharmaceuticals, Inc. (Dicerna), a second generation RNA interference (RNAi) company developing novel therapeutics utilizing its proprietary Dicer Substrate Technology™ and Dicer Substrate siRNA (DsiRNA) molecules, today announced that it has closed a $25 million Series B round of financing. New investor Domain Associates led the round, with all existing investors participating - Oxford Bioscience Partners, Skyline Ventures and Abingworth. In conjunction with its investment, Domain Associates' partner Brian K. Halak, Ph.D., joins Dicerna's board of directors.

“The company is undertaking these efforts independently, as well as in partnership with Kyowa Hakko Kirin and Ipsen through alliances formed earlier this year. These alliances reflect the promise of Dicerna's Dicer Substrate Technology and its ability to generate highly potent DsiRNA molecules.”

"We are pleased to welcome Domain Associates to our investor syndicate. With Domain's support, and that of our current investors, we have the necessary resources to continue building Dicerna as a leader in the RNAi field by supporting the further development of our next generation RNAi Dicer Substrate Technology platform, our DsiRNA-based therapeutic candidates, as well as our proprietary drug delivery systems," said Douglas M. Fambrough, Ph.D., chief executive officer of Dicerna. "As we execute our strategy to advance DsiRNA molecules toward the clinic, we welcome Domain Associates' Brian Halak to our board of directors. During this next phase of growth, we believe Brian's perspective will be invaluable, given his experience working with emerging life science companies and his strong scientific background."

"We are favorably impressed by Dicerna's management team and the progress it has made in developing differentiated RNAi technology, and in forming strategic alliances. We believe Dicerna's broad Dicer Substrate Technology platform favorably positions the company to overcome the challenges of first generation approaches, and offers significant advantages over other technologies in the field in terms of potency, specificity and deliverability," said Dr. Halak. "I look forward to working closely with the board as the company continues to execute on its corporate strategy."

"We are enthusiastic about Dicerna's potential to address serious diseases, as its early stage discovery efforts begin to yield development candidates," said Dave Madden, chairman of the board at Dicerna. "The company is undertaking these efforts independently, as well as in partnership with Kyowa Hakko Kirin and Ipsen through alliances formed earlier this year. These alliances reflect the promise of Dicerna's Dicer Substrate Technology and its ability to generate highly potent DsiRNA molecules."

Proceeds from the financing will be used to advance Dicerna's lead in-house program in oncology towards clinical development and progress its other preclinical programs. The company also plans to use the proceeds to continue to develop conjugated drug delivery systems, which combine Dicerna's DsiRNA molecules with targeting moieties such as peptides, aptamers or antibodies, potentially allowing for direct delivery into specific cells of interest.