Evommune, a biotechnology company focused on developing therapies for chronic immune conditions, has announced a $115 million Series C funding round. This investment will support the advancement of two key drug candidates, EVO756 and EVO301, through Phase 2 clinical trials. The trials are expected to produce results by the end of 2026.
EVO756: Targeting Mast Cell-Mediated Diseases
EVO756, Evommune's lead drug candidate, is an orally administered small molecule designed to block mas-related G-protein coupled receptor X2 (MRGPRX2). MRGPRX2 is a protein expressed on mast cells, which are implicated in various inflammatory conditions, including chronic spontaneous urticaria (CSU) and inducible urticaria. Urticaria, characterized by hives and severe itching, affects millions in the U.S., and current treatments like antihistamines and biologics (e.g., Xolair) often have limited efficacy or delayed onset.
According to Luis Pena, Evommune’s CEO, EVO756 has the potential to be a “first-in-class” treatment for conditions triggered by mast cells. Proof-of-concept data was disclosed in July, with fuller details expected at an upcoming conference. A Phase 2 study in inducible urticaria is anticipated to yield results in the first quarter of 2025, followed by data from a study in spontaneous urticaria in 2026. Several other companies, including Celldex Therapeutics, Novartis, Sanofi and Regeneron, are also developing therapies to improve upon standard care for urticaria.
EVO301: Addressing Atopic Dermatitis
Evommune's second program, EVO301, is a fusion protein targeting the inflammatory cytokine IL-18. The company licensed EVO301 from AprilBio earlier this year and is currently evaluating it for the treatment of atopic dermatitis. Phase 1 testing has demonstrated a “compelling clinical profile with potential for convenient dosing intervals,” according to Pena. Atopic dermatitis is a common type of eczema.
Financial Strategy and Future Prospects
The Series C funding round was co-led by RA Capital Management and Sectoral Asset Management. Evommune has raised more than $130 million through previous funding rounds. With the new funding and upcoming data readouts, Evommune is positioning itself for future growth, including the possibility of an initial public offering (IPO).
