New Investment in Series C Round of Evommune, Inc.
LEI: 549300Q7EXQQH6KF7Z84
01 November 2024
RTW Biotech Opportunities Ltd
New Investment in Series C Round of Evommune, Inc.
RTW Biotech Opportunities Ltd (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to note a new portfolio company investment in Evommune, Inc. ("Evommune"). The Company received a legacy position in Evommune earlier this year when it acquired the assets of Arix Bioscience. This Series C investment signifies the Company's long-term commitment to Evommune's future success.
The Company, alongside other investment vehicles managed by RTW Investments, LP (the "Investment Manager"), participated in Evommune's Series C round, raising $115 million to advance a pipeline of assets targeting chronic inflammatory diseases. Proceeds will be used to support advancement of lead clinical programs in chronic urticaria and atopic dermatitis, including multiple Phase 2 studies of EVO756, which plays a pivotal role in mast cell activation and neuroinflammation and has the potential to be a very targeted, safe and effective oral therapeutic option for multiple mast cell-mediated diseases.
Evommune is a clinical-stage biotechnology company discovering and developing new ways to treat immune-mediated inflammatory diseases.
Roderick Wong, Managing Partner and CIO at the Investment Manager said, "We are thrilled to continue our support for Evommune. We believe in Evommune's vision and their potential to make a significant impact in the lives of patients. Our ongoing investment after acquiring the position in our merger with Arix underscores the value of that transaction and our confidence in their promising pipeline of therapies."
The full text of the announcement can be accessed at: https://evommune.com/.
For Further Information
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RTW Investments, LP |
+44 20 7959 6361 |
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Woody Stileman, Managing Director, Business Development
Krisha McCune, Director, Investor Relations |
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Cadarn Capital (PR & Communications/Distribution & IR Partner) |
+44 79 8418 4461 |
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Lucy Clark (PR) |
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David Harris (Distribution) |
+44 73 6888 3211 david@cadarncapital.com |
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Deutsche Numis (Joint Corporate Broker)
Freddie Barnfield |
+44 20 7260 1000 |
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Nathan Brown |
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Euan Brown |
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BofA Securities (Joint Corporate Broker) |
+44 20 7628 1000 |
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Edward Peel |
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Alex Penney |
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Elysium Fund Management Limited
Joanna Duquemin Nicolle, Chief Executive Officer
Sadie Morrison, Managing Director
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+44 14 8170 3100 |
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Morgan Stanley Fund Services USA LLC |
+1 914 225 8885 |
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About Biotech Opportunities Ltd:
RTW Biotech Opportunities Ltd (LSE: RTW) is an investment fund focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors. Driven by a long-term approach to support innovative businesses, RTW Biotech Opportunities Ltd invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives. RTW Biotech Opportunities Ltd is managed by RTW Investments, LP, a leading healthcare-focused entrepreneurial investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.
Visit the website at www.rtwfunds.com/rtw-biotech-opportunities-ltd for more information.
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The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events, and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements, as well as those included in any related materials, are subject to risks, uncertainties and assumptions about the Company and/or its underlying investments, including, among other things, the development of the applicable entity's business, trends in its operating industry, expected use of financing proceeds and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur.
The information contained in this announcement is given at the date of its publication (unless otherwise marked). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness.
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