Evommune is a clinical-stage biotech focused on developing treatments for chronic inflammatory diseases. The company has two lead drug candidates, both in Phase 2 development. EVO756 is an oral small molecule that blocks the MRGPRX2 receptor on mast cells and peripheral sensory neurons, targeting chronic spontaneous urticaria, atopic dermatitis, and migraine. EVO301 is an injectable biologic that neutralizes IL-18, a pro-inflammatory protein, targeting moderate-to-severe atopic dermatitis and ulcerative colitis. Evommune has no approved products or revenue. The company funds operations through equity raises — it completed its IPO in November 2025 on the NYSE under "EVMN" — and through regional licensing deals. Evommune has sublicensed EVO756 rights in Japan and Greater Asia to Maruho, receiving $25M in upfront and milestone payments, while retaining rights in the U.S. and Europe. EVO756 is in-licensed from Dermira (a Lilly subsidiary), with up to $45M in development milestones and tiered royalties owed; EVO301 is in-licensed from AprilBio, with up to $82.5M in milestones and mid-to-high single-digit royalties owed. If drugs are approved, Evommune would commercialize through specialty physicians and, for EVO756, potentially primary care physicians as well.