Evommune Files for IPO to Fund Phase 2 Trials of Autoimmune Drug Candidates

Evommune, a Palo Alto-based biotech focused on chronic inflammatory diseases, filed for an initial public offering (IPO) and plans to list shares on the New York Stock Exchange under ticker symbol EVMN1 3.

The company recently concluded a $115 million Series C financing round co-led by RA Capital Management and Sectoral Asset Management in October 20241 2 5.

IPO and funding proceeds will be used primarily to advance two Phase 2 studies:
EVO756 (an oral MRGPRX2 antagonist for mast cell-mediated diseases such as urticaria and atopic dermatitis) and EVO301 (a fusion protein targeting IL-18 for atopic dermatitis and other chronic inflammatory conditions)1 2 5 4 12.

Evommune’s most advanced candidate, EVO756, recently showed favorable Phase 2 data in chronic inducible urticaria; additional trials in atopic dermatitis and spontaneous urticaria are underway or planned1 4 7 8 11.

EVO301 began Phase 2 testing in adults with moderate-to-severe atopic dermatitis in 2025 and is designed to regulate inflammation by neutralizing IL-18 signaling2 12.

Top shareholders include Pivotal bioVenture Partners and EQT Life Sciences, each holding a 16.3% stake in Evommune1 3.

Evommune’s pipeline advancement is part of a wider trend where life sciences IPOs are tied to lead Phase 2 programs, reflecting investor interest in promising mid-stage clinical assets5.