Evommune Raises $115 Million in Series C Financing

Evommune, a clinical-stage biotech player on a mission to revolutionize immune-mediated inflammatory disease treatments, has just pulled off a $115 million Series C financing round.

Led by new investors RA Capital Management and Sectoral Asset Management, this fresh infusion of cash brings a promising future for the company’s efforts to develop innovative therapies that address debilitating chronic conditions.

This latest investment round also saw support from a lineup of new and existing backers, including B Capital, Marshall Wace, Avego Bioscience Capital, and several other notable firms, all aligning to bolster Evommune’s mission.

For Evommune’s CEO, Luis Pena, this financing round is a significant step forward:

“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,” he said, exuding optimism about the company’s trajectory.

With multiple Phase 2 data readouts scheduled over the next two years, Evommune has positioned itself to make headway in chronic inflammatory disease treatments, giving hope to patients who’ve long awaited more effective options.

The round also brings new voices to Evommune’s Board of Directors. Joining the board are Derek DiRocco, Ph.D., a partner at RA Capital, and François Beaubien, Ph.D., CFA, from Sectoral Asset Management, both of whom add substantial expertise in life sciences and finance to the company’s leadership. "Evommune's EVO756 proof-of-concept study delivered very encouraging results," remarked Dr. DiRocco, underscoring his excitement about joining the team at this pivotal moment. He sees potential in Evommune’s future as it continues building a reputation as a pioneer in immunology.

The proceeds from this funding round will be funneled into the continued development of Evommune’s lead clinical programs, specifically in chronic urticaria and atopic dermatitis. Central to this is EVO756, a highly selective small molecule antagonist designed to target the MRGPRX2 receptor.

This receptor plays a pivotal role in both mast cell activation and neuroinflammation, two key players in the pathology of several chronic inflammatory diseases. By focusing on EVO756, Evommune hopes to offer a new oral treatment option that’s both safe and highly targeted, addressing a range of mast cell-mediated conditions.

In addition to EVO756, the funds will support further study of EVO301, Evommune’s serum albumin-binding injectable therapeutic fusion protein.

Designed to neutralize the IL-18 pathway—critical in the regulation of inflammation—EVO301 represents yet another promising addition to Evommune’s pipeline. With these two treatments advancing through Phase 2 trials, there’s a palpable sense of momentum building within the company.

Evommune has already hit key milestones this year. The company reported promising proof-of-concept data for EVO756, with the full data set expected to be presented in the fourth quarter of 2024.

Additionally, it recently initiated a multi-center Phase 2 trial for chronic inducible urticaria (CIndU), with results anticipated in the first half of 2025.

Looking forward, Evommune is planning a Phase 2b trial of EVO756 for chronic spontaneous urticaria, as well as a Phase 2 trial for EVO301 in atopic dermatitis, with these trials projected to report data in 2026.

This financing round not only solidifies Evommune’s standing but also sets a clear path forward for its ambitions in immunology. With an expanding pipeline and growing support from both investors and thought leaders, the company seems poised to make meaningful strides.

As 2025 and 2026 approach, patients and the medical community alike will be watching Evommune’s progress closely—awaiting breakthroughs that may finally elevate the standard of care for chronic inflammatory diseases.