Monday, September 14, 2020

Escient Pharmaceuticals Finds $77.5M In Series B

San Diego-based Escient Pharmaceuticals, which is developing treatments for mast cell-related diseases, said on Monday that it has raised $77.5M in a Series B funding round. According to the company, the funding round was led by Sanofi Ventures and Cowen Healthcare Investments and included new investors Redmile Group and Perceptive Advisors. As part of the funding, Jason Hafler, Ph.D., of Sanofi Ventures and Kevin Raidy of Cowen Healthcare Investments have joined the company's board of directors. Escient said the new funding will go towards a Phase 1/1b clinical trial of EP547, a MRGPRX4-targeted product candidate to treat cholestatic and uremic pruritus. Escient's other backers include The Column Group, 5AM Ventures, and Osage University Partners, all of whom participated in the funding.