RTW Biotech notes investee Evommune's USD150 million IPO raise

(Alliance News) - RTW Biotech Opportunities Ltd on Friday noted one of its private portfolio companies Evommune Inc raised USD150 million in its initial public offering.

RTW Biotech, a London-listed investor focused on high-growth life science assets, said Evommune began trading yesterday on the New York Stock Exchange under the ticker "EVMN".

Evommune's IPO raised USD150 million through the offering of 9.4 million shares at USD16 per share.

RTW Biotech said this valuation was a 22% step-up from the Evommune's prior holding value, and double the cost at the time of acquisition through the Arix transaction.

Palo Alto-based Evommune is a clinical-stage biotechnology company developing therapies that target key drivers of chronic inflammatory diseases.

RTW Biotech noted Evommune has two experimental medicines in phase 2 trials, with its lead programme, EVO756, in mid-stage testing for hives and atopic dermatitis.

Chief Investment Officer Rod Wong said: "We are excited to see Evommune reach this significant milestone, which we believe will further accelerate its mission to improve patient outcomes and advance novel therapies.

"Evommune's IPO again demonstrates the latent value potential in our private portfolio, along with the recent acquisitions of Alcyone and Numab at material uplifts to carrying value."

Shares in RTW Biotech rose 0.8% to USD1.82 on Friday afternoon in London.

By Roya Shahidi, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Rtw Biotech