NEA, Abingworth and Forge Life led a $120m Series C round in Escient Pharmaceuticals.

NEA, Abingworth and Forge Life, three venture capital firms, led a $120m Series C round in Escient Pharmaceuticals, a biotechnology company, with participation from Avego, PFM Health Sciences, The Eleven Fund, The Column Group, 5AM Ventures, Redmile Group, Cowen Healthcare Investments, Sanofi Ventures, Osage University Partners, and Altitude Life Science Ventures. “By specifically blocking the activation of MRGPRX2 and MRGPRX4 with small molecule antagonists, we aim to develop effective oral medications with novel mechanisms of action for serious neurosensory-inflammatory diseases without the serious side effects observed with other approaches. We are thrilled with the support from both existing and new investors, and this significant financing puts us in a great position to advance our pipeline to clinical proof-of-concept in multiple indications," Joshua Grass, Escient Pharmaceuticals CEO.