EVO570 (formerly HC118)

November 4, 2026: Evommune (NYSE: EVMN) and Hinova Pharmaceuticals (SSE: 688302) announced an exclusive license agreement giving Evommune rights outside Greater China to develop, manufacture and commercialize EVO570 (formerly HC118; HP570 in Greater China), an oral VAV1 molecular glue degrader for autoimmune diseases.

EVO570 is described as a selective VAV1 degrader intended for T- and B-cell-driven inflammatory diseases. The companies said IND applications have been submitted in China and accepted in the U.S., and a Phase 1 trial assessing safety, pharmacokinetics and target engagement/pharmacodynamics is expected to begin imminently. Evommune said it plans to start the first Phase 2 trial in rheumatoid arthritis in 2027.

Financial terms: Evommune will pay $30 million upfront, including $20 million in cash and $10 million in pre-funded warrants, plus up to about $1.1 billion in development, regulatory and commercial milestones and tiered royalties on net sales outside Greater China.

The release also said preclinical studies showed activity in animal models of multiple immune-mediated conditions and greater potency in human immune cells than competing VAV1 degraders.