Eli Lilly’s acquisition of Dice Therapeutics comes eight months after the biotech reported positive data from a Phase 1 study in psoriasis. Dice develops oral small molecule drugs intended to offer alternatives to biologic drugs that are injected or infused.
Dice Therapeutics reported the first human data for its oral psoriasis drug designed to hit the same pro-inflammatory protein blocked by blockbuster antibody drugs from Novartis and Eli Lilly. The potential for Dice’s pill to offer a competitive oral alternative pushed the biotech’s stock skyward by nearly 80%.
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Dice Therapeutics raised $204 million from its IPO to support development of oral drugs that could compete against biologic drugs that are injected or infused. Also debuting on the public markets were Tyra Biosciences and Procept BioRobotics.