Emerging Company Profile: With experienced leadership and new financing, Evommune is developing a topical IRAK4 inhibitor for atopic dermatitis and earlier-stage systemic drugs for various conditions.

Private Company Edition: Venture capital mega-rounds of $100m or more held steady in April after a slow January and February then a surge in March, but VC fundraising is down overall this year. In recent raises, Enveda series B expanded to $119m, Vedanta brought in $106.5m and Convergent raised $90m.

The French major is planning a Phase II trial of KT-474 in atopic dermatitis and hidradenitis suppurativa after the asset fared well in a small Phase I trial, although some analysts remain skeptical.

Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.