The Johns Hopkins spinout has raised cash from OUP as it looks to move its first candidate, targeting skin itch complications, into the clinic.
Escient Pharmaceuticals, a US-based drug developer spun out of Johns Hopkins University, closed a $77.5m series B round on Monday backed by spinout-focused investment firm Osage University Partners (OUP).
Sanofi Ventures, the corporate venturing arm of pharmaceutical firm Sanofi, and Cowen Healthcare Investments (CHI) co-led the round, with further participation from Redmile Group and Perceptive Advisors.
All existing shareholders – which include Column Group and 5AM Ventures – returned for the round. Altitude Life Science Ventures’ Fund II also lists Escient as a portfolio company, although full details could not be ascertained.
Founded in 2018, Escient Pharmaceuticals is working on oral medications for various neuro-inflammatory and autoreactive diseases utilising a chemosensory target thought to detect offensive stimuli in the body known as the Mas-related G Protein-Coupled Receptor (MRGPR).
The funding will go to a phase 1/1bn study of Escient’s lead candidate, EP547, aimed at skin itches developed as a side-effect of the liver disease cholestasis and kidney disease uraemia.
Escient said its pipeline also includes an MRGPRX2-targeting candidate for multiple indications, but did not provide further details.
The company’s scientific co-founder is Xinzhong Dong, an investigator in Howard Hughes Medical Institute and professor of neuroscience, neurosurgery and dermatology at Johns Hopkins University’s School of Medicine.
Jason Hafler, managing director at Sanofi Ventures, and Kevin Raidy, managing partner at CHI, have both joined the board of directors with the series B round.
Escient previously closed a $40m series A round in 2018 featuring OUP, Column Group and 5AM Ventures.
Alain Baron, chief executive of Escient, said: “In just over two years since our launch, we have made significant progress developing our platform and pipeline.
“We have advanced both our understanding of the role MRGPRs in a number of therapeutic areas and our methods for drugging them to potentially treat several diseases based on novel and specific mechanisms of action.”
