Evommune expands immunology pipeline with US$1.1B Hinova deal for oral autoimmune therapy
Hinova is also eligible to receive up to approximately US$1.07 billion in additional payments tied to development, regulatory and commercial milestones, as well as tiered royalties on net sales in markets outside Greater China.
USA—Evommune has secured exclusive rights outside Greater China to develop and commercialize Hinova Pharmaceuticals’ experimental autoimmune therapy, EVO570, under a licensing agreement worth up to US$1.1 billion, expanding its pipeline of treatments for chronic inflammatory diseases.
Under the agreement, the California-based biotechnology company will pay Hinova US$30 million upfront, comprising US$20 million in cash and US$10 million in pre-funded warrants to purchase Evommune common shares.
Hinova is also eligible to receive up to approximately US$1.07 billion in additional payments tied to development, regulatory and commercial milestones, as well as tiered royalties on net sales in markets outside Greater China.
The agreement gives Evommune control of the drug’s development, manufacturing and commercialisation across these territories.
Oral therapy targets immune signalling protein
Previously designated HC118, EVO570 is an experimental oral molecular glue degrader designed to target VAV1, a signalling protein involved in activating T cells and B cells.
These immune cells play a central role in autoimmune diseases, making VAV1 a potential target for therapies that aim to control excessive immune responses.
Hinova discovered the drug, but it has not yet received regulatory approval.
The company has submitted an investigational new drug (IND) application in China, while the US Food and Drug Administration (FDA) has accepted its corresponding filing.
Evommune plans to initiate a Phase I clinical trial shortly to assess the drug’s safety, pharmacokinetics and target engagement.
Preclinical studies have demonstrated activity in animal models of several immune-mediated conditions.
The compound also showed greater potency in human immune cells than competing degraders, according to the companies.
Evommune Chief Scientific Officer Dr Jeegar Patel described VAV1 as a promising target in immunology, noting that it could offer efficacy comparable to Janus kinase (JAK) inhibitors while potentially avoiding some of their safety and tolerability challenges.
He highlighted the drug’s differentiated molecular structure, high selectivity and sub-nanomolar potency, which could support once-daily oral administration.
The company is targeting rheumatoid arthritis and other autoimmune diseases driven by T-cell and B-cell activity.
Evommune expects to report initial Phase I findings before advancing EVO570 into its first Phase II clinical trial in rheumatoid arthritis in 2027.
Deal expands Evommune’s immunology pipeline
The licensing agreement strengthens Evommune’s position in immunology and gives the company access to a potential new treatment approach targeting immune-cell signalling.
It also reflects continued pharmaceutical industry interest in targeted protein degradation, a strategy that uses small molecules to direct disease-associated proteins towards cellular destruction rather than simply blocking their activity.
For Hinova, the transaction provides an opportunity to advance an internally discovered candidate through international clinical development while retaining commercial participation through milestone payments and royalties.
Based in Chengdu, China, Hinova develops treatments for cancer, autoimmune and metabolic diseases.
Its portfolio includes small molecules, deuterated drugs and proteolysis-targeting chimeras (PROTACs), and the company already markets a prostate cancer treatment in China.
Evommune focuses on developing treatments for chronic inflammatory diseases, with EVO570 adding an experimental immunology programme to its pipeline.
BFC Group acted as Hinova’s exclusive financial adviser, while Fangda Partners served as its exclusive legal adviser.
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