Existing investor Sanofi Ventures came back for Escient's series C fundraise, throwing money in the pot to support the ultimate goal of creating new small molecule therapeutics.
Escient Pharmaceuticals has scored $120 million, a much heftier sum than its series B haul from a few years ago and once again snagging support from Big Pharma Sanofi’s VC arm.
The San Diego biotech’s fundraise follows a $77.5 million series B in September 2020, a round that occurred alongside Escient’s first in-human tests.
Now, the $120 million will help the biotech push forward investigational small molecule therapeutics for several neurosensory-inflammatory disorders, with a focus on lead candidates EP547 and EP262. The assets are designed to inhibit cell surface receptors called Mas-related G protein-coupled receptors, or MRGPRs, which mediate the neuro-immune overactivation associated with many chronic disorders.
By using small molecules to specifically block MRGPRX2 and MRGPRX4 activation, the company aims to develop oral medications for neurosensory-inflammatory diseases without the serious side effects tied to other approaches, Escient CEO Joshua Grass said in a Nov. 28 release. The $120 million financing will help the company advance its pipeline to clinical proof-of-concept in multiple indications.
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