On November 28, 2022, Escient Pharmaceuticals announced that it had raised $120 million through a Series C Financing led by New Enterprise Associates (NEA), Abingworth and Forge Life Science Partners. The fundraising included participation from other new investors including Avego, PFM Health Sciences, and The Eleven Fund, as well as existing investors The Column Group, 5AM Ventures, Redmile Group, Cowen Healthcare Investments, Sanofi Ventures, Osage University Partners (OUP), and Altitude Life Science Ventures. Wilson Sonsini Goodrich & Rosati advised NEA and Abingworth on the transaction.

Escient Pharmaceuticals is a clinical-stage company that is focused on developing novel therapeutics for a broad range of neurosensory-inflammatory disorders. The San Diego, Calif.-based company plans to use proceeds from the fundraising to support the advancement of a pair of product candidates. This is expected to include clinical proof-of-concept studies for EP262 (MRGPRX2 antagonist) in chronic spontaneous urticaria (CSU), chronic inducible urticaria (CindU) and atopic dermatitis (AD) and for EP547 (MRGPRX4 antagonist) in cholestatic pruritus.

The Wilson Sonsini team that advised NEA and Abingworth included:

Corporate
Dan Koeppen
Meg Burton
Bridget Balisy

Technology Transactions - Biotech
Sarah Siedlak

For more information, please see the press release.