E-Scape emerges with $63M series A

Neurodegeneration play E-Scape Bio Inc. emerged from stealth mode with a tranched $63 million series A round led by OrbiMed. Existing investors Novo Holdings A/S (Hellerup, Denmark), the Johnson & Johnson Innovation - JJDC Inc. unit of Johnson & Johnson (NYSE:JNJ), Novartis Venture Fund and Osage University Partners participated, as did new investors Lilly Asia Ventures and Sutter Hill Ventures.

The company has received $46 million of the round across two tranches. Interim CEO Leon Chen declined to disclose details regarding milestones tied to the final $17 million tranche. Chen is also a venture partner at OrbiMed. ...