Evommune Licenses Hinova VAV1 Degrader Rights for $30 Million Upfront

Evommune agreed to license Hinova’s VAV1 degrader rights outside Greater China for $20 million in cash and $10 million in stock warrants. Additional milestones and royalties are possible. Evommune also agreed to sell nearly 5 million shares in a private placement expected to raise an unspecified amount.