EVMN · In-licenses EVO570 + $30M PIPE

Evommune in-licensed EVO570, an oral VAV1 molecular glue degrader, from Hinova Pharmaceuticals for $30M upfront ($20M cash + $10M in pre-funded warrants) plus up to ~$1.1B in milestones and tiered royalties. Concurrently, it raised ~$30M in a private placement of 4,966,889 shares at $6.04 per share. The combined transactions add a Phase 1-ready asset and extend cash runway into 2H 2029.

• Evommune in-licensed EVO570 (VAV1 MGD) from Hinova for $20M cash + $10M in pre-funded warrants upfront
• Up to $150M in development/regulatory milestones and up to $920M in commercial milestones plus tiered mid-single to low-double digit royalties
• Concurrent $30M private placement of 4,966,889 shares at $6.04 per share to institutional investors
• Pro forma cash, cash equivalents and investments estimated at ~$292.3M post-closing, funding operations into 2H 2029