We are pleased to announce one of our portfolio companies, Evommune, has successfully raised a $115M Series C round to support advancing clinical development of their pipeline in autoimmune and inflammatory diseases. Since we invested in their $50M Series B round in 2023, the company has executed on developing their pipeline and has now become a leading precision immunology company. We give full credit to the excellent, seasoned management team who continue to make intelligent pipeline decisions and have done a great job executing their clinical development plan.
Our investment strategy includes making a small number of investments in precision medicine companies outside of Canada that are emerging leaders in their field and Evommune has continued to validate our original investment thesis.
Since our investment in the Series B round we have actively worked with the team as a member of the Board and have seen management bring their lead program, a molecule targeting MRGPRX2, through phase 1 and initiate a phase 2 trial in Chronic inducible urticaria patients. The company plans to initiate a phase 2b trial of EVO756 in patients with chronic spontaneous urticaria (CSU) during the first half of next year with an additional trial in atopic dermatitis. To broaden their pipeline, the company in-licensed a second clinical program targeting IL-18 to be initially tested in atopic dermatitis patients.
Another example of Amplitude’s precision medicine focus:
We believe Evommune is building an exciting immunology company with multiple products in the clinic that have the potential to revolutionize how inflammatory diseases are treated. With an exceptionally experienced management team who have delivered more than ten new therapies to patients, multiple exciting programs in the clinic targeting millions of potential patients, a great syndicate of leading investors and growing interest in the immunology space by big pharma, we believe Evommune is positioned to continue to deliver new and exciting therapies to patients.
We are thrilled to continue to invest behind this exciting and growing company to bring new immunology medicines to patients.
