Dice Therapeutics
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
DICE Therapeutics was a South San Francisco biopharmaceutical company that went public in 2021, led by CEO Kevin Judice. It leveraged its proprietary DELSCAPE technology platform to develop novel oral therapeutic candidates, aiming to create small-molecule pills that modulate protein-protein interactions as effectively as injectable biologics. Its lead program targeted IL-17, a pro-inflammatory molecule validated in psoriasis and other autoimmune diseases, with DC-806 in Phase 2 clinical trials and DC-853 behind it, plus oral programs for inflammatory bowel disease and immuno-oncology. The company raised $532 million in total funding.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- IPO
DICE Therapeutics went public in 2021, funding clinical development of its oral IL-17 inhibitor pipeline for autoimmune diseases.
- Acquired
On June 20, 2023, Eli Lilly agreed to acquire DICE Therapeutics for $48 per share in cash, about $2.4 billion (a ~42% premium), to bring its DELSCAPE platform and oral IL-17 pipeline into Lilly's immunology organization. The deal closed in the third quarter of 2023.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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