Dicerna Pharmaceuticals Inc., a Watertown company that is developing RNA interference drugs, said Thursday that it has closed $60 million in an oversubscribed Series C round of financing.
The round was led by new investor RA Capital with participation by Brookside Capital, Deerfield, and Omega Funds. In addition, the round includes all five of Dicerna’s existing institutional investors: Abingworth Management, Domain Associates, Oxford Bioscience Partners, Skyline Ventures, and SR One.
“We are pleased to welcome RA Capital, Brookside Capital, Deerfield, and Omega Funds to our dedicated investor syndicate,” Dicerna chief executive Douglas M. Fambrough said in a statement. “With our new and current investor support, we have the necessary resources to continue Dicerna’s progression into a clinical-stage biopharmaceutical company. Dicerna is developing first-in-class therapeutics by taking well understood and genetically-defined but so far ‘undruggable’ targets and building our pipeline using our next generation RNAi Dicer Substrate Technology platform and our EnCore Drug Delivery System. Over the next two years we will launch several Dicer Substrate pharmaceuticals into clinical development, targeting well-understood orphan diseases as well as classic undruggable targets in oncology. We anticipate our first human trials will begin in early 2014.”