RTW Biotech Opportunities Ltd - investment fund managed by RTW Investments LP that specialises in the life sciences sector - Makes an investment in new portfolio company Evommune Inc, a biotechnology company developing therapies for chronic inflammatory disease, as part of a Series C funding round. The company received a legacy position in Evommune earlier this year after its acquisition of Arix Bioscience and its assets.
The $115 million raised by Evommune from RTW Biotech Opportunities and other investment vehicles managed by RTW Investments will be used to support the advancement of clinical programs for two chronic skin conditions - chronic urticaria and atopic dermatitis. This includes phase 2 studies for EVO756, a promising potential oral therapeutic option for multiple mast cell-mediated diseases.
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