Arix Co-leads USD50 Million Series B Financing for New Portfolio Company Evommune (1618295)
27 Abril 2023 - 3:00AM
UK Regulatory
Arix Bioscience PLC (ARIX) Arix Co-leads USD50 Million Series B
Financing for New Portfolio Company Evommune 27-Apr-2023 / 07:00
GMT/BST
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Arix Bioscience plc
Arix Co-leads USD50 Million Series B Financing for New Portfolio
Company Evommune
LONDON, 27 April 2023: Arix Bioscience plc ("Arix" or the
"Company") (LSE: ARIX), a transatlantic venture capital company
focused on investing in breakthrough biotechnology companies,
announces that the Series B financing for new Core Portfolio
company, Evommune Inc. ("Evommune"), has closed.
Arix co-led the USD50 million round for Evommune, a
clinical-stage biotechnology company discovering and developing new
ways to treat inflammatory diseases, investing USD8.1 million
(GBP6.6 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 PKC?.
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."
The announcement can be accessed on Evommune's website at:
www.evommune.com
[ENDS]
Enquiries
For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
ir@arixbioscience.com
Powerscourt Group
Sarah MacLeod, Ibrahim Khalil, Nick Johnson
+44 (0)20 7250 1446
arix@powerscourt-group.com
About Arix Bioscience plc
Arix Bioscience plc is a transatlantic venture capital company
focused on investing in breakthrough biotechnology companies around
cutting-edge advances in life sciences.
We collaborate with exceptional entrepreneurs and provide the
capital, expertise, and networks to help accelerate their ideas
into important new treatments for patients. As a listed company, we
are able to bring this exciting growth phase of our industry to a
broader range of investors. www.arixbioscience.com
About Evommune, Inc.
Evommune, Inc. is a private clinical-stage biotechnology
inventing new ways to treat inflammatory diseases. The company is
evolving immunology through its unique and dynamic human
tissue-based approach to discovering, developing, and delivering
therapies that address symptoms and halt progressive disease.
Evommune was founded in 2020 by an industry-leading team of R&D
experts and biotech company builders, and is headquartered in Palo
Alto, California. For more information, visit www.Evommune.com.
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Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GB00BD045071
Category Code: MSCM
TIDM: ARIX
LEI Code: 213800OVT3AHQCXNIX43
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 239833
EQS News ID: 1618295
End of Announcement EQS News Service
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(END) Dow Jones Newswires
April 27, 2023 02:00 ET (06:00 GMT)
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