Evommune – a clinical-stage biotechnology company discovering and developing new ways to treat inflammatory diseases – announced the completion of a $50 million Series B financing. The funding round was co-led by new investor Arix Bioscience and current investors EQT Life Sciences and SymBiosis with participation from new and existing investors including Amplitude Ventures, and Series A leads Pivotal bioVenture Partners and Andera Partners.
The funding round will be used to support Evommune’s 3 prioritized pipeline programs targeting highly prevalent inflammatory diseases, including EVO101, a novel small molecule inhibitor of the IRAK4. And this molecule is being evaluated in a Phase 2a proof-of-concept trial in patients with atopic dermatitis with data expected later this year. Plus Evommune is evaluating EVO756, a preclinical molecule designed to target mast cells by selectively modulating MRGPRX2 to treat chronic spontaneous urticaria and interstitial cystitis, and a discovery program targeting autoimmune diseases via PKCθ.
KEY QUOTES:
“As a new investor in Evommune, we are excited to partner with the company’s experienced leadership team, which leverages a unique human tissue screening platform to curate its drug discovery and translational medicine decisions. We believe Evommune is well-positioned to deliver on the promise of its lead investigational medicine, EVO101, targeting interleukin 1 receptor-associated kinase 4 (IRAK4), in addition to rapidly advancing the development of its other compelling programs targeting MRGPRX2 and protein kinase C (PKC) theta (PKCθ).”
— Mark Chin, Managing Director at Arix Bioscience
“Worldwide, three out of five people die from chronic inflammatory diseases, so continuing innovation in the space is vital. With this financing we are poised to be at the forefront of this movement with funds supporting the rapid progression of our broad pipeline well into 2025. Evommune has multiple value-creating milestones planned over the next two years. We appreciate the continued support of our existing investors, and welcome new investors who share the vision and excitement about our programs to evolve the immunology landscape.”
— Luis Peña, President and Chief Executive Officer of Evommune
