Evommune Secures $115M Series C Financing to Advance Clinical Development

Evommune, Inc., a clinical-stage biotechnology company, has recently concluded a $115 million Series C financing round co-led by RA Capital Management and Sectoral Asset Management. The funding will be utilized to support the clinical development of the company's lead program, EVO756, which is an MRGPRX2 inhibitor, as well as its IL-18 targeted fusion protein program, EVO301. Evommune aims to conduct multiple Phase 2 data readouts in 2025 and 2026, focusing on chronic urticaria and atopic dermatitis.

The financing involved new investors such as 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, along with existing investors like Pivotal bioVenture Partners, EQT Life Sciences, Andera Partners, Amplitude Ventures, Symbiosis, and Verition Fund Management.

 The company's goal is to provide new treatment options for patients suffering from chronic inflammatory diseases. The proceeds from the financing will support the progression of EVO756 and EVO301 programs in chronic urticaria and atopic dermatitis, as well as a Phase 2 proof of concept study of EVO301, a long-acting serum albumin-binding injectable therapeutic fusion-protein designed to regulate inflammation in multiple chronic inflammatory diseases.