Evommune announces completion of $50 million Series B financing

Key takeaways:

• The $50 million Series B financing was led by Arix Bioscience, EQT Life Sciences and SymBiosis.
• Funding will go toward three programs that aim to treat chronic inflammatory diseases.

New and current investors of Evommune have recently completed a $50 million Series B financing toward three of the company’s pipeline programs targeting prevalent inflammatory disease, according to a company press release.

The $50 million Series B financing was led by Arix Bioscience, a new investor in Evommune, EQT Life Sciences and SymBiosis along with financial contributions from Amplitude Ventures and the leads from Series A, Pivotal bioVenture Partners and Andera Partners.

"Worldwide, three out of five people die from chronic inflammatory diseases, so continuing innovation in [this] space is vital,” Luis Peña, president and CEO of Evommune, said in the release. “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.”

The funds will support three of Evommune’s programs including EVO101 and EVO756.

EVO101, a novel small molecule inhibitor of the interleukin-1 receptor-associated kinase 4, is currently in phase 2a of a proof-of-concept trial for the treatment of patients with atopic dermatitis. According to the press release, data from this study is expected later this year.

EVO756 is being evaluated for the treatment of spontaneous urticaria and interstitial cystitis due to its ability to modulate MRGPRX2.

Additionally, Evommune will assess a discovery program intended to target autoimmune diseases carried by protein kinase C theta. According to the press release, these milestones will take place over the next 2 years.