Arix Co-leads $50 Million Series B Financing for New Portfolio Company Evommune
Arix Bioscience, a transatlantic venture capital company focused on investing in breakthrough biotechnology companies, announces that the Series B financing for new Core Portfolio company, Evommune, has closed. Arix co-led the $50 million round for Evommune, a clinical-stage biotechnology company discovering and developing new ways to treat inflammatory diseases, investing $8.1 million (£6.6 million).
The round was co-led with existing investors EQT Life Sciences and SymBiosis alongside participation from new and existing investors Amplitude Ventures, Pivotal bioVenture Partners and Andera Partners. In connection with the financing, Arix will take a seat on Evommune’s board of directors.
The capital raised will support Evommune’s three prioritised pipeline programs targeting highly prevalent inflammatory diseases, including EVO101, a novel small molecule inhibitor of the IRAK4. This molecule is being evaluated in a Phase 2a proof-of-concept trial in patients with atopic dermatitis, with data expected later this year. In addition, Evommune is evaluating EVO756, a preclinical molecule designed to target mast cells by selectively modulating MRGPRX2 to treat chronic spontaneous urticaria and interstitial cystitis, and a discovery program targeting autoimmune diseases via PKCθ.
Robert Lyne, CEO of Arix Bioscience, said: “We are pleased to have co-led this successful financing round for Evommune. Evommune’s best-in-class approach will result in earlier and better targeted therapies for a range of inflammatory diseases such as atopic dermatitis. We look forward to supporting Evommune in developing these potentially life-changing treatments for patients as they progress through the clinic and create value for our shareholders.”
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