Evommune – a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases – announced the completion of a $115 million Series C financing. The funding was co-led by new investors RA Capital Management and Sectoral Asset Management, along with participation from new investors B Capital, Marshall Wace, Avego Bioscience Capital, Longwood Fund, RTW Investments, ADAR1 Capital Management, NEXTBio Capital, Beiersdorf Venture Capital, FemHealth Ventures and Allostery Investments LP and existing investors, including Pivotal bioVenture Partners, EQT Life Sciences, Andera Partners, Amplitude Ventures, SymBiosis and Verition Fund Management.
In connection with the Series C funding, Derek DiRocco, Ph.D., partner at RA Capital Management, and François Beaubien, Ph.D., CFA, partner at Sectoral Asset Management, have joined Evommune’s Board of Directors.
The proceeds from the Series C funding will be used to support the continued advancement of the company’s lead clinical programs in chronic urticaria and atopic dermatitis, including multiple Phase 2 studies of EVO756, a potent, highly selective small molecule antagonist of mas-related G-protein coupled receptor X2 (MRGPRX2). EVO756 plays a major role in mast cell activation and neuroinflammation and can potentially be a very targeted, safe, and effective oral therapeutic option for multiple mast cell-mediated diseases.
The proceeds from the funding will also support a Phase 2 proof of concept study of EVO301, a long-acting serum albumin-binding injectable therapeutic fusion protein designed to neutralize the signaling pathway of IL-18 and regulate inflammation in multiple chronic inflammatory diseases.
KEY QUOTES:
“The support from these leading life science investors speaks to the strong momentum we have built with the positive proof of concept data from our EVO756 program earlier this year and the expansion of our pipeline with EVO301. With multiple Phase 2 data readouts anticipated in 2025 and 2026, we are well positioned to continue to show meaningful progress and achieve our goal of delivering new treatment options to patients suffering from chronic inflammatory diseases.”
– Luis Pena, Chief Executive Officer at Evommune
“Evommune’s EVO756 proof of concept study delivered very encouraging results, providing a strong foundation for Evommune to progress as a cutting-edge immunology company. I am excited to join Evommune’s Board of Directors at such an important time and look forward to working with this experienced leadership team to advance new treatments that could elevate the standard of care in a variety of chronic inflammatory diseases.”
– Dr. DiRocco
