Source: Dicerna Pharmaceuticals, Inc.
Dicerna Pharmaceuticals, Inc. (NASDAQ:DRNA) (the “Company”), a leading
developer of investigational ribonucleic acid interference (“RNAi”)
therapeutics, today announced that it has closed its previously
announced stock purchase transaction for the sale of redeemable
convertible preferred stock (“Preferred Stock”) to a syndicate of
current and new investors led by Bain Capital Life Sciences, under which
the Company received gross proceeds of $70.0 million.
Under terms of the Preferred Stock purchase agreement, Adam M. Koppel,
M.D., Ph.D., a managing director of Bain Capital Life Sciences, has
joined Dicerna’s Board of Directors, which has been expanded to nine
seats.
At the closing, Dicerna issued 700,000 shares of Preferred Stock, which
are convertible into common shares at an initial conversion price of
$3.19 per share. Please refer to the Company’s Form 8-K, which was filed
with the Securities and Exchange Commission on March 30, 2017, for the
complete terms of the Preferred Stock transaction.
Dicerna intends to use the proceeds from the Preferred Stock transaction
to further develop its GalXC™ pipeline programs, including both
pre-clinical and clinical work, as well as for general corporate
purposes.
About Dicerna Pharmaceuticals, Inc.
Dicerna Pharmaceuticals, Inc., is a biopharmaceutical company focused on
the discovery and development of innovative RNAi-based therapeutics for
diseases involving the liver, including rare diseases, chronic liver
diseases, cardiovascular diseases, and viral infectious diseases. The
Company is leveraging its proprietary GalXC™ RNAi technology platform to
build a broad pipeline in these core therapeutic areas, focusing on
target genes where connections between target gene and diseases are well
understood and documented. The Company intends to discover, develop and
commercialize novel therapeutics either on its own or in collaboration
with pharmaceutical partners. For more information, please visit www.dicerna.com.
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