Dicerna gets another $4M for RNAi work

Watertown, MA-based Dicerna Pharmaceuticals says it's added another $4 million in financing, bringing the developer's total haul to $29 million. GlaxoSmithKline's venture arm SR One joined the original group of investors which included Oxford Bioscience Partners, Skyline Ventures, Abingworth and Domain Associates.

Dicerna was a 2010 Fierce 15 winner. The company is using its Dicer Substrate Technology to create gene-silencing molecules, making them a bit longer than other developers working in the RNAi space. Dicerna's platform can generate a string of leads, lending itself to an assembly-line deal-making structure, chief business officer Martin Williams told FierceBiotech earlier this year. It will use the additional funding to advance its lead oncology program and preclinical programs, and is planning to continue development of drug delivery technology.

"Following our first close of the Series B in August, we re-opened the round due to significant additional interest from the investment community in our unique Dicer Substrate Technology platform and next generation approach to developing RNAi therapeutics," CEO Doug Fambrough said. "The SR One team offers a high level of sophistication, success with emerging life sciences companies and a long history of setting the standard for corporate venture capital investing in the biotech sector."

- take a look at Dicerna's release