EVOMMUNE, INC.
11.00%
3,458,770
2044725
30054Y107
Nov 6, 2025
Nov 17, 2025, 04:44 PM
Reporting Persons (4)
This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.
| Name | Type | % of Class | Aggregate | Sole Voting | Shared Voting |
|---|---|---|---|---|---|
| RA Capital Management, L.P. | Investment Adviser | 11.00% | 3,458,770 | 0 | 3,458,770 |
| Peter Kolchinsky | Holding Company | 11.00% | 3,458,770 | 0 | 3,458,770 |
| Rajeev Shah | Holding Company | 11.00% | 3,458,770 | 0 | 3,458,770 |
| RA Capital Healthcare Fund, L.P. | Partnership | 8.50% | 2,674,425 | 0 | 2,674,425 |
Disclosure Items (7)
Common Stock, $0.0001 par value per share
EVOMMUNE, INC.
1841 Page Mill Road, Suite 100, Palo Alto, CA, 94304
This Schedule 13D is being filed on behalf of RA Capital Management, L.P. ("RA Capital"), Peter Kolchinsky, Rajeev Shah, and RA Capital Healthcare Fund, L.P. (the "Fund"). RA Capital, Dr. Kolchinsky, Mr. Shah, and the Fund are collectively referred to herein as the "Reporting Persons." The agreement among the Reporting Persons to file this Schedule 13D jointly in accordance with Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended, (the "Act") is attached hereto as Exhibit 99.1. The Reporting Persons' ownership of the Issuer's securities includes (i) 2,674,425 shares of common stock held directly by the Fund and (ii) 784,345 shares of common stock held directly by RA Capital Nexus Fund III, L.P. (the "Nexus Fund III"). RA Capital Healthcare Fund GP, LLC is the general partner of the Fund and RA Capital Nexus Fund III GP, LLC is the general partner of the Nexus Fund III. The general partner of RA Capital is RA Capital Management GP, LLC, of which Dr. Kolchinsky and Mr. Shah are the controlling persons. RA Capital serves as investment adviser for each of the Fund and the Nexus Fund III and may be deemed a beneficial owner, for purposes of Section 13(d) of the Act, of any securities of the Issuer held by the Fund or the Nexus Fund III. Each of the Fund and the Nexus Fund III has delegated to RA Capital the sole power to vote and the sole power to dispose of all securities held in its portfolio, including the shares of the Issuer's common stock reported herein. Because each of the Fund and the Nexus Fund III has divested itself of voting and investment power over the reported securities it holds and may not revoke that delegation on less than 61 days' notice, each of the Fund and the Nexus Fund III disclaims beneficial ownership of the securities it holds for purposes of Section 13(d) of the Act and therefore disclaims any obligation to report ownership of the reported securities under Section 13(d) of the Act. As managers of RA Capital, Dr. Kolchinsky and Mr. Shah may be deemed beneficial owners, for purposes of Section 13(d) of the Act, of any securities of the Issuer beneficially owned by RA Capital. RA Capital, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of the securities reported in this Schedule 13D other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing of this Schedule 13D shall not be deemed an admission that either RA Capital, Dr. Kolchinsky, or Mr. Shah is the beneficial owner of such securities for any other purpose.
The address of the principal business office of each of the Reporting Persons is 200 Berkeley Street, 18th Floor, Boston, MA 02116.
The Fund is a private investment vehicle. RA Capital provides investment management services to the Fund and the Nexus Fund III. The principal occupation of each of Dr. Kolchinsky and Mr. Shah is investment management.
During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
See Item 6 of the cover pages.
Prior to the Issuer's initial public offering (the "IPO"), (i) the Fund purchased an aggregate of 12,924,620 shares of Series C preferred stock and (ii) the Nexus Fund III purchased an aggregate of 5,889,699 shares of Series C preferred stock. The aggregate purchase price of the foregoing was $29,999,997. In connection with the closing of the IPO, on November 7, 2025, the Series C preferred stock automatically converted into shares of common stock on a 1-for-8.518 basis. The Fund and the Nexus Fund III also purchased 1,157,096 and 92,904 shares of common stock, respectively, from the underwriters of the IPO at the IPO price of $16.00 per share, for an aggregate purchase price of $20,000,000. All purchases of the securities described herein were for cash and were funded by working capital of the Fund and the Nexus Fund III, as applicable.
Rows 11 and 13 of each Reporting Person's cover page to this Schedule 13D set forth the aggregate number of shares of common stock and percentages of the shares of common stock beneficially owned by such Reporting Person and are incorporated by reference. The percentage set forth in each row 13 is based upon 31,483,810 shares outstanding as of November 7, 2025, as reported in the Issuer's final prospectus dated November 5, 2025 filed with the Securities and Exchange Commission (the "SEC") on November 6, 2025.
Rows 7 through 10 of each Reporting Person's cover page to this Schedule 13D set forth the number of shares of common stock as to which such Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition and are incorporated by reference.
Except as set forth herein, none of the Reporting Persons has effected any transactions with respect to the securities of the Issuer during the past sixty days.
No person (other than the Reporting Persons) is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of common stock subject to this 13D.
Not applicable.
Lock-up Agreements The holders of substantially all of the Issuer's pre-IPO capital stock, including the Fund and the Nexus Fund III, and each of the Issuer's directors, entered into lock-up agreements (the "Lock-Up Agreements") with the representatives of the underwriters of the Issuer's IPO. Pursuant to the Lock-Up Agreements, neither the Fund nor the Nexus Fund III is permitted, with limited exceptions, for a period of 180 days from November 7, 2025, to dispose of or hedge any of the Issuer's securities, except with the prior written consent of Morgan Stanley & Co. LLC, Leerink Partners LLC and Evercore Group L.L.C. The description of the Lock-Up Agreements contained in this Item 6 is qualified in its entirety by reference to the full text of the form of Lock-up Agreement filed as Exhibit 99.2 to this Schedule 13D and incorporated by reference herein. Third Amended and Restated Investors' Rights Agreement On October 30, 2024, certain investors of the Issuer, including the Fund and the Nexus Fund III, entered into a third amended and restated investors' right agreement (the "Investors' Rights Agreement") with the Issuer, pursuant to which the Issuer agreed to register for resale certain shares of common stock and other equity securities of the Issuer that are held by the investors party thereto (the "Registrable Securities"). Pursuant to the Investors' Rights Agreement, beginning 180 days after the effective date of the registration statement filed in connection with the IPO, the Issuer will file a registration statement registering the resale of the Registrable Securities upon the request of holders of at least a majority of the outstanding Registrable Securities. The investors may request a maximum of two registrations pursuant to this provision. In addition, holders of at least 20% of the outstanding Registrable Securities may request the Issuer to file a registration statement on Form S-3, if eligible, to sell Registrable Securities with an anticipated aggregate offering amount of at least $5.0 million net of certain expenses related to the offering. The investors may request a maximum of two registration statements on Form S-3 in a 12-month period. The Issuer will be responsible for certain expenses relating to such registrations and indemnify the stockholders against certain liabilities. The investors are also entitled to customary "piggyback" registration rights, subject to certain requirements and conditions. The registration rights granted under the Investors' Rights Agreement will terminate upon the earlier of (i) a deemed liquidation event or certain other events constituting sale of the Issuer, (ii) such time after the IPO when all Registrable Securities could be sold under Rule 144 of the Securities Act of 1933, as amended, or a similar exemption without limitation during a three-month period without registration or (iii) the fifth anniversary of the IPO. The description of the Investors' Rights Agreement contained in this Item 6 is qualified in its entirety by reference to the full text of the Investors' Rights Agreement filed as Exhibit 99.3 to this Schedule 13D and incorporated by reference herein. Equity Awards Derek DiRocco, a Partner at RA Capital, is a member of the Board of Directors of the Issuer. From time to time, Dr. DiRocco may receive stock options or other awards of equity-based compensation pursuant to the Issuer's compensation arrangements for non-employee directors. Pursuant to an agreement with RA Capital, Dr. DiRocco is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to RA Capital.
Exhibit 99.1 Joint Filing Agreement Exhibit 99.2 Form of Lock-up Agreement (incorporated by reference to Exhibit A to the Form of Underwriting Agreement filed as Exhibit 1.1 to the Issuer's Registration Statement on Form S-1, as amended (Registration No. 333-290793), filed with the SEC on October 17, 2025). Exhibit 99.3 Third Amended and Restated Investors' Rights Agreement, dated as of October 30, 2024, by and among Evommune, Inc. and the investors party thereto (incorporated by reference to Exhibit 4.2 to the Issuer's Registration Statement on Form S-1 (Registration No. 333-290793), filed with the SEC on October 9, 2025).