Evommune Inc., Completes $83 Million Series A Financing to Advance Development of Unique Chronic Inflammation Pipeline
- Global Syndicate of Investors in Series A Included Pivotal bioVenture Partners, Andera Partners and LSP
LOS ALTOS, Calif., September 9, 2021-- Evommune, Inc., a private R&D company and innovation engine in chronic inflammation, today announced the completion of an $83 million Series A financing which included Andera Partners and LSP, who joined forces with a global syndicate of investors and existing investor, Pivotal bioVenture Partners. The financing enables Evommune to continue the research and development of transformative therapies through both industry and academic collaborations to treat patients with immune-mediated and chronic inflammatory diseases.
"We are thrilled to have continued support from Pivotal bioVenture Partners and new backing from Andera Partners, LSP, as well as other high caliber investors," said Luis Peña, president and chief executive officer of Evommune. "We know there is considerable need for more effective and safe treatments for inflammatory diseases. Our goal is to be a significant part of the solution. This financing will allow us to advance all four of the programs in our pipeline into the clinic."
Evommune was founded in 2020 by former senior leaders at Dermira and industry veterans, including Luis Peña, president and chief executive officer, Eugene A. Bauer, MD, chief medical officer and Hans Hofland, PhD, senior vice president, research. The company is using the skin as the lens to uncover new approaches for accelerating the development of vital medicines across immunology with a focus on inflammation. By utilizing a novel screening platform, Evommune has identified differentiated molecules that have a greater probability of being effective in treating patients with chronic inflammatory conditions.
"We were initially drawn to Evommune because of their stellar leadership team. This team has over three decades of success in identifying and developing innovative compounds," said Rob Hopfner, RPh, PhD, MBA, managing partner at Pivotal bioVenture Partners. "Since our initial investment, the team has continued to impress us with the identification of potentially novel compounds that could become transformative treatments for patients who are living with chronic inflammatory conditions and experiencing a reduced quality of life."
Evommune has four investigational compounds in development. Three of the compounds stem from an exclusive agreement with Dermira, a wholly-owned subsidiary of Eli Lilly and Company and include IRAK4/TrkA, a small molecule that broadly inhibits innate inflammation; RORγt, a small molecule addressing Th17 mediated inflammation; and MRGPRX2, a small molecule to treat chronic pruritus (itch). The fourth compound is a PKCtheta inhibitor which could have broad utility across a spectrum of immune-mediated, inflammatory diseases and came to Evommune through an exclusive partnership with Axcelead Drug Discovery Partners, Inc., a Japan-based, first solution provider for entire drug discovery research.
About Evommune, Inc.
Evommune is a private R&D company and innovation engine in chronic inflammation. The company is taking a tissue-based approach to advance insights and accelerate the development of transformative medicines in inflammatory diseases. Evommune was founded in 2020 by a successful and experienced leadership team focused on building a robust pipeline of unique therapies that help patients with chronic inflammatory diseases. The company is headquartered in Los Altos, Calif. For more information, please visit Evommune.com.
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