Evommune Licenses EVO570 In $30 Million Upfront Deal, Rebuilding After EVO756 Mid-Stage Setbacks

Evommune has struck a licensing deal with Hinova Pharmaceuticals for an oral molecular glue degrader aimed at autoimmune diseases, adding a new clinical-stage asset after its own oral candidate EVO756 missed in mid-stage studies in chronic spontaneous urticaria and atopic dermatitis. Under the agreement, Evommune is paying $30 million upfront for worldwide rights excluding the Greater China area.

That upfront package consists of $20 million in cash and $10 million in pre-funded warrants to purchase Evommune stock. Hinova could also receive up to $1.1 billion in milestone payments, plus royalties on net sales outside of China.

The Asset And Development Plan

The candidate, formerly called HC118 and known as HP570 in China, will now be called EVO570. Evommune said it plans to take the VAV1-directed degrader into a mid-stage rheumatoid arthritis trial in 2027.

Requests to begin clinical trials have been accepted in the U.S. and submitted in China, with a Phase 1 study expected to launch imminently. The companies said EVO570 targets VAV1, a signaling protein mainly located in immune cells that drives T and B cell activation across several chronic inflammatory diseases.

Their thesis is that degrading VAV1 could improve safety and tolerability compared with JAK inhibitor treatments. That comparison matters because, as the source notes, the only approved oral therapies for rheumatoid arthritis are JAK inhibitors, which carry boxed warnings for serious safety risks including mortality and thrombosis.

Why The Deal Matters For Evommune

Oppenheimer described the transaction as a “low-cost/high-PoS [probability of success] deal” and a major positive advancement for Evommune. The firm pointed to a near-term clinical catalyst, a possible first-in-class rheumatoid arthritis program, and room for expansion into neurological indications.

The strategic logic is also internal. BioSpace reported that the deal helps address a “catalyst vacuum” created after EVO756 failed in mid-stage testing for chronic spontaneous urticaria and atopic dermatitis. Development of EVO756 has been discontinued in those two indications, although Evommune continues to study it in a mid-phase migraine trial.

For a company coming off those setbacks, EVO570 offers a faster way to restore pipeline momentum than starting a new autoimmune program from scratch. The commercial opening is sizable: the source says there are more than 1.2 million U.S. patients with rheumatoid arthritis, and Oppenheimer said the market can accommodate multiple players.

In preclinical studies, Oppenheimer said EVO570 showed 20 times more potency than Novartis' oral molecular glue degrader MRT-6160. Novartis licensed MRT-6160 from Monte Rosa Therapeutics in 2024 for $150 million upfront and up to $2.1 billion in additional payments, and that asset is now in mid-stage development for psoriatic arthritis and Sjögren’s disease. That does not establish clinical superiority for Evommune’s candidate, but it does show the company has chosen a target and modality that larger peers are already validating with substantial dealmaking.