Evommune Licenses Hinova Drug With Up to $1.1B in Milestones

Evommune has licensed exclusive rights outside Greater China to develop, manufacture and commercialize Hinova Pharmaceuticals’ experimental oral autoimmune drug EVO570, a molecular glue degrader designed to target the immune-cell signaling protein VAV1. The deal includes $30 million upfront—$20 million in cash and $10 million in pre-funded warrants—plus potential development, regulatory and commercial milestones of up to about $1.1 billion and tiered royalties. The drug has not been approved; U.S. and Chinese investigational filings are in place, and a Phase 1 trial is expected to begin soon. Evommune plans to advance EVO570 into a Phase 2 rheumatoid arthritis trial in 2027, expanding its chronic inflammatory disease pipeline.