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Dicerna Pharmaceuticals Raises Additional $4M in Series B, Bringing Total to $29M

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Dicerna Pharmaceuticals said this week that it has raised an additional $4 million in a second closing of Series B equity financing, bringing the total raised in this round to $29 million.

The company raised $25 million in the Series B in August (GSN 8/12/2010).

SR One, the venture capital arm of GlaxoSmithKline, participated in the financing as a new investor, joining existing investors Oxford Bioscience Partners, Skyline Ventures, Abingworth, and Domain Associates.

In conjunction with the investment, Brian Gallagher, a partner at SR One, will become an observer on Dicerna's board of directors.

Doug Fambrough, CEO of Dicerna, said in a statement that the company re-opened the Series B 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."

Dicerna said it plans to use the proceeds from the financing to further develop its lead in-house program in oncology and to improve its delivery technologies.

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