HomeUSAEvommune Raises $115M in Series C Financing

Evommune Raises $115M in Series C Financing

-

Evommune

Evommune, a Palo Alto, CA-based clinical-stage biotechnology company focused on immune-mediated inflammatory diseases, raised $115M in Series C funding.

The round 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 financing, 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.

Led by CEO Luis Pena, Evommune is a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases.

The company intends to use the funds for the continued advancement of its 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 pivotal role in mast cell activation and neuroinflammation and has the potential to be a very targeted, safe and effective oral therapeutic option for multiple mast cell mediated diseases.

The proceeds will also support a Phase 2 proof of concept study of EVO301, a long-acting serum albumin-binding injectable therapeutic fusion-protein that is designed to neutralize the signaling pathway of IL-18 for the regulation of inflammation in multiple chronic inflammatory diseases.

FinSMEs

31/10/2024

THE DAILY NEWSLETTER - SIGNUP