Deerfield Management & Brookside Capital Revealed Significant Stakes in Newly Public Dicerna Pharmaceuticals Inc (DRNA)

In a couple of filings with the Securities and Exchange Commission, Deerfield Management, led by James E. Flynn, and Bain Capital’s Brookside Capital reported holding stakes in Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), a company that went public a couple of days ago.  Deerfield disclosed holding a total of  2.42 million common shares of the company, while Brookside’s stake amasses 2.34 million shares.

Deerfield obtained the securities through the conversion of around 1.43 million Series C Preferred Stock and the acquisition of additional shares at a price of $15 apiece.

Dicerna Pharmaceuticals Inc

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), a biopharmaceutical company that focuses on treating rare inherited diseases related to the liver and for cancer, offered 6.0 million shares in its initial public offering at a price of $14.0 per share.

The company has partnered with Kyowa Hakko Kirin Co., Ltd. (KHK) for two of its oncology development programs. Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) expects to receive clinical, regulatory and commercialization milestone payments for each of its product candidate under research collaboration and license agreement with KHK, of up to $110.0 million.

RA Capital Healthcare Fund, an affiliate fund of the Peter Kolchinsky‘s Ra Capital Management is also a significant shareholder of Dicerna, holding around 1.43 million shares prior to the IPO.

Deerfield Management focuses on investment companies that specialize in managing hostile takeovers, funding R&D, corporate transitions and financial advisory services.

A couple of months ago, Deerfield Management initiated a passive stake in Horizon Pharma Inc (NASDAQ:HZNP), and revealed owning 4.4 million shares. It also upped its stake in Universal American Corporation (NYSE:UAM) to 4.4 million shares, from 2.9 million shares, and boosted its position in Capital Senior Living Corporation (NYSE:CSU) to 1.8 million shares from 1.1 million shares held earlier.

Brookside Capital is a long/short public equities fund, using fundamental analysis as well as industry and competitive, it invests across all economic sectors.

Brookside Capital held 2.28 million shares of Monsanto Company (NYSE:MON) at the end of the third quarter of 2013. The fund was also bullish on Youku Tudou Inc (ADR) (NYSE:YOKU), and held 8.15 million shares at the end of the third quarter.

Disclosure: none

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