REG-Arix Bioscience PLC Arix Co-leads $50 Million Series B Financing for New Portfolio Company Evommune

Arix BioscienceAnnouncement

27/04/2023 07:15

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   Arix Bioscience PLC (ARIX)
   Arix Co-leads $50 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 $50 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  $50  million  round  for  Evommune,  a   clinical-stage
   biotechnology  company  discovering  and  developing  new  ways  to  treat
   inflammatory diseases, investing $8.1 million (£6.6 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 PKCθ.

   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:  1 www.evommune.com

                                        

                                      ENDS 

    

    

   Enquiries

   For more information on Arix, please contact:

    

   Arix Bioscience plc

   +44 (0)20 7290 1050

   ir 2 @arixbioscience.com

    

   Powerscourt Group

   Sarah MacLeod, Ibrahim Khalil, Nick Johnson

   +44 (0)20 7250 1446

    3 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.
    4 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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