Escient Pharmaceuticals Acquisition, Valuation, Funding & Investors

Escient Pharmaceuticals was acquired by Incyte for $750M in April 2024.

Escient Pharmaceuticals acquisition price

$750M

Acquired by Incyte · Apr 2024

Cumulative funding Escient Pharmaceuticals raised

$238M

across 3 funding rounds

Key investors in Escient Pharmaceuticals

  • OUP (Osage University Partners)
  • 5AM Ventures
  • The Column Group
  • New Enterprise Associates
  • Perceptive Advisors
  • Redmile Group
  • Sanofi Ventures
  • Abingworth

Escient Pharmaceuticals Overview

About Escient Pharmaceuticals

Escient Pharmaceuticals is a San Diego-headquartered biopharma company advancing G protein-coupled receptor agonists for neuro-immuno-inflammatory diseases. Its lead candidates target itch-associated disorders like atopic dermatitis and chronic pruritus, with clinical trials demonstrating efficacy in Phase 2 studies. The pipeline includes oral small molecules designed for autoreactive conditions, backed by collaborations with academic researchers in receptor signaling.


Founded

2018

HQ

United StatesSan Diego, CA

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$750M (acquired Apr 2024)

Escient Pharmaceuticals Acquisition

Escient Pharmaceuticals was acquired by Incyte for $750M on 23 April 2024.

Before the acquisition Escient Pharmaceuticals had raised $238M across 3 funding rounds.

Escient Pharmaceuticals, a San Diego-based clinical-stage biopharmaceutical company, specializes in developing small molecule therapeutics targeting MRGPR receptors for systemic immune and neuro-immune disorders, including mast cell-mediated inflammatory conditions. Its lead candidate EP262, an oral MRGPRX2 antagonist, targets chronic spontaneous urticaria, chronic inducible urticaria, and atopic dermatitis, showing good tolerability in a June 2023 phase 1 trial with mild adverse events and preclinical efficacy in skin inflammation models. EP547, also an oral MRGPR antagonist, is in phase 1 trials for pruritus associated with kidney and liver diseases, including cholestatic pruritus. Incyte Corporation, a Wilmington, Delaware-based biopharmaceutical firm focused on oncology and inflammation, acquired Escient for $750 million plus Escient's remaining net cash, with the deal announced in April 2024 and completed on May 30, 2024. The acquisition bolsters Incyte's inflammation and autoimmunity portfolio, complementing its approved JAK1/JAK2 inhibitor cream Opzelura for atopic dermatitis and vitiligo, by adding first-in-class oral MRGPR antagonists with potential launches starting in 2029. Incyte CEO Hervé Hoppenot highlighted the assets' fit for addressing unmet needs in inflammatory diseases, while Escient CEO Joshua Grass noted the six-year effort in characterizing MRGPR biology and advancing these candidates. Post-acquisition, the assets faced setbacks: Incyte paused phase 2 trials of INCB000262 (formerly EP262) for urticaria due to toxicology findings in a long-term animal study, and discontinued INCB000547 (formerly EP547) in cholestatic pruritus, leading to investor disappointment and scrutiny over the deal's value amid looming patent expiry for Incyte's key product Jakafi in 2028.

Escient Pharmaceuticals acquisition details
AcquirerDateTypePrice
23 Apr 2024Strategic M&A$750M

Escient Pharmaceuticals Funding History

Escient Pharmaceuticals has raised a total of $238M across 3 funding rounds.

Escient Pharmaceuticals' first fundraising round was a $40M Series A in May 2018. The most recent completed round was a $120M Series C in November 2022.

Escient Pharmaceuticals funding rounds

Escient Pharmaceuticals funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2022Series CAbingworth (lead); Forge Life Science Partners (lead); New Enterprise Associates (lead)$120MEscient Pharmaceuticals is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing novel small molecule therapeutics targeting Mas-Related G-Protein Receptors (MRGPRs), specifically MRGPRX2 and MRGPRX4 antagonists, to treat neurosensory-inflammatory disorders such as chronic spontaneous urticaria, chronic inducible urticaria, atopic dermatitis, and cholestatic pruritus. The company's pipeline includes EP262, an MRGPRX2 antagonist, and EP547, an MRGPRX4 antagonist, with plans to advance these to clinical proof-of-concept studies. On November 28, 2022, Escient closed a $120 million Series C financing round co-led by New Enterprise Associates (NEA), Abingworth, and Forge Life Science Partners, with participation from new investors Avego, PFM Health Sciences, and The Eleven Fund, as well as existing investors including The Column Group, 5AM Ventures, Redmile Group, Cowen Healthcare Investments, Sanofi Ventures, Osage University Partners, and Altitude Life Science Ventures. The proceeds are intended to support the clinical advancement of EP262 and EP547 to multiple milestones. Prior to the Series C, Escient had raised approximately $117.5 million across earlier rounds, including a $77.5 million Series B in 2020 and a $40 million Series A launch financing, bringing total funding to $237.5 million by the time of the Series C. The company, founded in 2018, is led by CEO Joshua Grass, who joined late in 2021, and aims to develop oral medications with novel mechanisms for serious diseases mediated by mast cell activation without the side effects of other therapies. Wilson Sonsini Goodrich & Rosati advised NEA and Abingworth on the transaction. Escient was later acquired by Incyte on April 23, 2024, marking the end of its independent funding rounds, with cumulative capital raised reaching $237.5 million over multiple stages.
Sep 2020Series BCowen Healthcare Investments (lead); Sanofi Ventures (lead); 5AM Ventures; The Column Group; Redmile Group; Perceptive Advisors; OUP (Osage University Partners)$78MEscient Pharmaceuticals, a San Diego-based biotechnology company, develops Mas-related G Protein-Coupled Receptor (MRGPR)-targeted drugs for serious, underserved medical needs across therapeutic indications, including cholestatic and uremic pruritus with lead candidate EP547, an MRGPRX4-targeted therapy, and programs for mast cell-related diseases. The company announced the completion of a $77.5 million Series B financing on September 14, 2020, led by Sanofi Ventures and Cowen Healthcare Investments, with participation from new investors Redmile Group and Perceptive Advisors, as well as existing investors The Column Group, 5AM Ventures, and Osage University Partners. Proceeds were designated to support clinical development of EP547, which had just initiated a Phase 1/1b clinical trial, based on novel findings of disease-related metabolites activating the MRGPRX4 itch receptor. Escient was founded around 2018 by an experienced team of biotechnology entrepreneurs with expertise in GPCR drug discovery and development, initially launching with $40 million. The Series B built on prior funding, confirming investor confidence from top-tier life science backers. Jason Hafler, Ph.D., from Sanofi Ventures and Kevin Raidy from Cowen Healthcare Investments joined the board following the round. The financing enabled advancement into clinical stages for EP547 and expansion of the pipeline. Subsequent developments included a $120 million raise in 2022, bringing total funding to $237.5 million across five rounds. In 2024, Incyte acquired Escient for $750 million plus net cash, gaining EP262 for inflammatory skin conditions and EP547 for pruritus in kidney and liver diseases, complementing Incyte's dermatology portfolio including Opzelura. The acquisition, expected to close in Q3 2024, highlighted Escient's potential in immunology and inflammation, with launch opportunities projected from 2029.
May 2018Series AThe Column Group (lead); 5AM Ventures; OUP (Osage University Partners)$40MEscient Pharmaceuticals, a San Diego-based biotech company focused on GPCR drug discovery and development with specific expertise in mast cell-related diseases, raised $40 million in Series A funding in April 2018. The round was led by The Column Group with participation from Osage University Partners and 5AM Ventures, among other investors. The company later completed a Series B funding round in September 2020 and a Series C round in November 2022 before being acquired by Incyte on April 23, 2024. The company is backed by top-tier life-sciences investors with expertise in identifying and supporting next-generation medicines companies.

Who has invested in Escient Pharmaceuticals?

10 investors have backed Escient Pharmaceuticals across its funding rounds, including OUP (Osage University Partners), 5AM Ventures, The Column Group, New Enterprise Associates, Perceptive Advisors and Redmile Group.

Lead investors include Abingworth, Forge Life Science Partners, New Enterprise Associates, Cowen Healthcare Investments, Sanofi Ventures and 1 other investor.


Escient Pharmaceuticals Investors

Investors in Escient Pharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check
5AM VenturesUnited StatesUnited States2ParticipantMay 2018
The Column GroupUnited StatesSan Francisco, CA2LeadMay 2018
OUP (Osage University Partners)United StatesPhiladelphia, PA2ParticipantMay 2018
Cowen Healthcare InvestmentsUnited StatesNew York City, NY1LeadSep 2020
Redmile GroupUnited StatesSan Francisco, CA1ParticipantSep 2020
Forge Life Science PartnersUnited StatesBoston, MA1LeadNov 2022
New Enterprise AssociatesUnited StatesSan Francisco, CA1LeadNov 2022
AbingworthUnited KingdomLondon1LeadNov 2022

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Escient Pharmaceuticals Competitors

Escient Pharmaceuticals competitors include listed companies like Aarti Pharmalabs and Supriya Lifescience, and private ones like Sonoma Biotherapeutics, Terray Therapeutics, Alpha Biopharma and Letu.

Public and private companies comparable to Escient Pharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Sonoma BiotherapeuticsUnited StatesSan Francisco, CAPrivate--$732M-
Aarti PharmalabsIndiaIndiaPublicly listed$186M$40M$774M-
Terray TherapeuticsUnited StatesLos Angeles, CAPrivate--$600M-
Alpha BiopharmaChinaGuangzhouPrivate--$595M-
LetuChinaShenzhenPrivate--$1.1B-
Supriya LifescienceIndiaIndiaPublicly listed$84M$31M$754M7.9x

Escient Pharmaceuticals Public Comps

Escient Pharmaceuticals is no longer listed, but its public comps include Supriya Lifescience, Nxera Pharma, Sanofi India, DBV Technologies, Gyre Therapeutics, Gubra, Pharming, MapLight Therapeutics, Oxford BioMedica and Collegium Pharmaceutical.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Supriya Lifescience$84M$31M8.9x7.9x24.0x22.8x
Nxera Pharma$190M($26M)5.1x4.0x(37.2x)24.3x
Sanofi India$190M$49M3.7x3.5x14.4x12.5x
DBV Technologies-($144M)-129.8x(4.1x)(4.1x)
Gyre Therapeutics$117M$15M6.4x6.7x49.2x(19.3x)
Gubra$406M$331M1.5x3.4x1.9x6.1x
Pharming$376M$34M1.9x1.9x21.5x20.5x
MapLight Therapeutics-($166M)--(2.6x)(2.1x)

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Common questions about Escient Pharmaceuticals

When was Escient Pharmaceuticals founded?Escient Pharmaceuticals was founded in 2018.
Where is Escient Pharmaceuticals headquartered?Escient Pharmaceuticals is headquartered in San Diego, CA, United States.
Is Escient Pharmaceuticals publicly listed?No, Escient Pharmaceuticals was acquired by Incyte in April 2024.
Who acquired Escient Pharmaceuticals?Escient Pharmaceuticals was acquired by Incyte in April 2024.
How much was Escient Pharmaceuticals acquired for?Escient Pharmaceuticals was acquired for $750M in April 2024.
How much funding has Escient Pharmaceuticals raised?Escient Pharmaceuticals has raised $238M across 3 funding rounds.
What was Escient Pharmaceuticals' last funding round?Escient Pharmaceuticals' last funding round was a $120M Series C in November 2022, led by Abingworth, Forge Life Science Partners and New Enterprise Associates.
Who are Escient Pharmaceuticals' investors?Escient Pharmaceuticals' investors include 5AM Ventures, The Column Group, OUP (Osage University Partners), Cowen Healthcare Investments, Redmile Group, Forge Life Science Partners, New Enterprise Associates, Abingworth, Sanofi Ventures and Perceptive Advisors.
Which companies are comparable to Escient Pharmaceuticals?Companies comparable to Escient Pharmaceuticals include Sonoma Biotherapeutics, Aarti Pharmalabs, Terray Therapeutics, Alpha Biopharma, Letu and Supriya Lifescience.

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