Slide 1: Evommune Corporate Presentation September 2026
Evommune Corporate Presentation September 2026 © Evommune, Inc.
Slide 2: Disclaimers
Disclaimers This presentation has been prepared by Evommune, Inc. (“we”, “us” or “our”) and contains forward-looking statements, including: statements about our expectations regarding the potential benefits, clinical activity and tolerability of our product candidates; our expectations with regard t
Slide 3: Chronic Inflammation is a Global Healthcare Crisis
Chronic Inflammation is a Global Healthcare Crisis © Evommune, Inc. 1. https://www.ncbi.nlm.nih.gov/books/NBK493173/. 2. Wylezinski LS, et al. PMID: 30979036. 3. GlobalData, 2023. 4. GlobalData, 2023 (US/EU5/JP forecasts). Annual Direct Cost2 $90B I&I Therapies Fail Patients >50% Deaths Worldwide1 3
Slide 4: A Broad Portfolio Progressing Multiple Opportunities
A Broad Portfolio Progressing Multiple Opportunities © Evommune, Inc. 1. Moderate-to-severe atopic dermatitis, US adults; Chiesa Fuxench ZC, et al. J Invest Dermatol 2019. 2. US/EU5/JP eligible patients estimated. Sources: Clarivate “Migraine: Disease Landscape and Forecast” (2026), AHS guidelines f
Slide 5: Pipeline of Potential Best-in-Class and/or First-in-Class Assets
Pipeline of Potential Best-in-Class and/or First-in-Class Assets © Evommune, Inc. Program/Target Indication Preclinical Phase 1 Phase 2 Phase 3 EVO301 IL-18BP Atopic Dermatitis Ulcerative Colitis Other Indications1 EVO756 MRGPRX2 Migraine EVO646 TLR 7/8 antagonist Autoimmune Diseases Phase 2b Data A
Slide 6: EVO301 has Multi-Billion Dollar Potential
EVO301 has Multi-Billion Dollar Potential © Evommune CONFIDENTIAL Source: Evommune 2036 estimates based on Evaluate Pharma (2032), Datamonitor (2033) data ~$100B Market IL-18–Driven Diseases 2L+ Advanced Therapy AD Biologic-experienced / inadequate responders 1L Advanced Therapy AD Initiating advanc
Slide 7: EVO301: Addresses Limitations of Existing Biologics
Biologic Pathway Adaptive Inflammation Innate Inflammation Skin Barrier (IL-22) No Conjunctivitis Signal TH2 TH1 TH17 IL-18 DUPIXENT® EBGLYSS® ADBRY® NEMLUVIO® EVO301: Addresses Limitations of Existing Biologics © Evommune, Inc. Green = impacts biological pathway; Red = negative effect. Demonstrated
Slide 8: Key Milestones Ahead For Evommune
Key Milestones Ahead For Evommune (NYSE: EVMN) © Evommune, Inc. ~$287M Cash and Investments; Expected Runway Into 2029 Championing Innovation for Chronic Inflammation EVO301 IL-18BP Plan to initiate Phase 2b in AD with subcutaneous formulation in mid-2027 EVO756 MRGPRX2 Expect top-line data from Pha
Slide 9: EVO301: Potential Best-in-Class IL-18BP Fusion Protein
EVO301: Potential Best-in-Class IL-18BP Fusion Protein Long-Acting Serum Albumin-Binding Injectable Therapeutic Fusion Protein Designed to Neutralize IL-18 Signaling © Evommune, Inc.
Slide 10: Potential to Command Substantial Market Share in AD Market
Potential to Command Substantial Market Share in AD Market © Evommune, Inc. Sales from Evaluate Pharma may represent projections (accessed Sept 2026). 1. At maintenance. 2. From ’25-’26. 3. Global atopic dermatitis therapeutics market, projected at $29.5B by 2033 from $15.4B in 2024 (7.5% CAGR); Ast
Slide 11: Proven Playbook, Larger Market: AD Could Reach ~$60B
10 20 30 0 50 60 40 Proven Playbook, Larger Market: AD Could Reach ~$60B © Evommune, Inc. Per Evaluate Pharma (May represent projections and not actual sales); “Year 1” for AD represents 2017 (year of Dupixent launch); “Year 1” for Psoriasis represents 2004 (year of Enbrel launch in plaque psoriasis
Slide 12: EBGLYSS and NEMLUVIO Each Projected for $2.5B+ Global Sales
Both EBGLYSS and NEMLUVIO, Launched in 2024, Each Projected for $2.5B+ Global Sales EBGLYSS and NEMLUVIO AD Launches Outpace Historical Psoriasis Launches © Evommune, Inc. Sources: IQVIA, based on New to Brand prescriptions. 1 2 3 4 5 6 7 8 9 10 11 12 Months Post-Launch U.S. Monthly TRX (000s) Ebgly
Slide 13: IL-18 Immune Rebalancing: Modulate Innate and Adaptive Inflammation
IL-18 Immune Rebalancing: Modulate Innate and Adaptive Inflammation for Potential Disease Remission © Evommune, Inc. PAMPs: Pathogen-associated molecular patterns; DAMPs: Damage-associated molecular patterns Chronic Inflammation Tissue Pathophysiology Clinical Manifestations Inflammatory Infiltrates
Slide 14: EVO301: Long-Acting IL-18 Neutralizer Designed for Tissue Targeting
EVO301: Long-Acting IL-18 Neutralizer Designed for Tissue Targeting SAFA and IL-18BP Fused Via Peptide Linker for Extended Neutralization of IL-18 Activity © Evommune, Inc. SAFA - Anti-Serum Albumin Fab-Associated. HSA – Human Serum Albumin SAFABODY™ is a trademark of AprilBio Co., Ltd. Free IL-18 I
Slide 15: EVO301 Phase 2a Proof of Concept Trial Design
EVO301 Phase 2a Proof of Concept Trial Design © Evommune, Inc. EASI = Eczema Area and Severity Index; vIGA = Validated Investigator Global Assessment; BSA = Body Surface Area; BL = Baseline; PBO = Placebo. Trial identifier: NCT06723405 Adults with Moderate-to-Severe Atopic Dermatitis (N = 70) Random
Slide 16: EVO301 Achieved the Primary Endpoint
EVO301 Achieved the Primary Endpoint Phase 2a Proof-of-Concept Trial in Moderate-to-Severe Atopic Dermatitis (N=70) © Evommune, Inc. 34% placebo-adjusted EASI improvement at week 8 (33% at week 12) 23% of patients achieved IGA 0/1 at week 12 vs 0% on placebo Highly significant EASI reductions vs pla
Slide 17: Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy
Week 2 Phase 2a Trial in AD Demonstrated Statistically Significant Efficacy Across Time Points © Evommune, Inc. Week 0 Week 4 Week 8 Week 12 % Average Change in EASI ↓ Dosed at Weeks 0 and 4 Placebo (n=22) EVO301 (n=48) * * % Change in EASI by Study Visit *p<0.01 ↓ % Average change in EASI is LS Mea
Slide 18: EVO301 Demonstrated Comparable Activity at 12 Weeks to Marketed Biologics
IL-18 IL-31 IL-13 IL-4 / IL-13 EVO301 Demonstrated Comparable Activity at 12 Weeks to Dose-Optimized Marketed Biologics at 16 Weeks © Evommune, Inc. For illustrative purposes only. Not a head-to-head comparison. Differences exist between trial designs and study characteristics, and caution should be
Slide 19: Planned EVO301 Phase 2b Dose-Ranging Trial in AD
Planned EVO301 Phase 2b Dose-Ranging Trial in AD Trial Initiation Expected Mid-2027 © Evommune, Inc. EASI = Eczema Area and Severity Index; vIGA = Validated Investigator Global Assessment; Pruritus-NRS = Pruritus Numerical Rating Scale; BSA = Body Surface Area; BL = Baseline, QoL = Quality of Life Q
Slide 20: EVO756: Oral MRGPRX2 Antagonist
EVO756: Oral MRGPRX2 Antagonist Potential First- and Best-in-Class Dual Mechanism Modulates Both Peripheral Sensory Neurons and Mast Cells © Evommune, Inc.
Slide 21: EVO756: Targeting Major Unmet Need in Migraine Prevention
EVO756: Targeting Major Unmet Need in Migraine Prevention © Evommune, Inc. 1. US/EU5/JP eligible patients estimated. Sources: Clarivate “Migraine: Disease Landscape and Forecast” (2026), AHS guidelines for migraine prevention eligibility, Buse et al. (2024), Silberstein et al. (2015), Cohen et al. (
Slide 22: Strong Scientific Rationale for EVO756 in Migraine
Strong Scientific Rationale for EVO756 in Migraine © Evommune, Inc. MRGPRX2 is expressed in human trigeminal neurons and meningeal mast cells Disease-Relevant Expression in vivo headache models support pathogenic role for MRGPRX2 Preclinical Validation Translational Insights Multiple MRGPRX2 ligands
Slide 23: MRGPRX2: Positioned to Address Neuronal and Mast Cell Drivers of Migraine
MRGPRX2: Positioned to Address Neuronal and Mast Cell Drivers of Migraine © Evommune, Inc. Source: Evommune internal data (trigeminal neurons; in situ hybridization on human tissue samples), PMID: 40712576 (meningeal mast cells) Expression Confirmed in Disease-Relevant Tissues MRGPRX2 nuclei Trigemi
Slide 24: High Demand for Preventative Migraine Therapy
High Demand for Preventative Migraine Therapy © Evommune, Inc. Sources: Clarivate “Migraine: Disease Landscape and Forecast” (2026), AHS guidelines for migraine prevention eligibility, Buse et al. (2024), Silberstein et al. (2015), Cohen et al. (2024), Coppola et al. (2025), Sakai et al. (2022). Not
Slide 25: PACAP Triggers Migraine via MRGPRX2
PACAP Triggers Migraine via MRGPRX21 © Evommune, Inc. 1. Mrgprb2 is rodent homologue. 2. In grams, measured via Orbital von Frey assessment. Source: Internal Evommune data. Confirms data published in PMID: 37516794. Facial withdrawal threshold2 in vivo data support functional role of MRGPRX21 signal
Slide 26: Neuropeptides that Trigger Migraine Signal Through MRGPRX2
3 Neuropeptides that Trigger Migraine Signal Through MRGPRX2 © Evommune, Inc. Note that PACAP also binds PAC1, VPAC1, VPAC2, but PAC1 inhibition does not show therapeutic benefit in migraine. PACAP VIP Substance P MRGPRX2
Slide 27: Blocking MRGPRX2 Addresses Validated Migraine Triggers
Neuropeptide Preclinical Evidence Induced Headache in Humans Clinical Validation PACAP VIP TBD Substance P TBD Blocking MRGPRX2 Addresses Validated Migraine Triggers © Evommune, Inc. Note that PACAP also binds PAC1, VPAC1, VPAC2, but PAC1 inhibition does not show therapeutic benefit in migraine.
Slide 28: EVO756 Clinical Development Overview
EVO756 Clinical Development Overview © Evommune, Inc. CIndU = Chronic inducible urticaria; AD = Atopic dermatitis Trial Phase 1 Proof-of-Concept Phase 2 Phase 2b N 132 30 ~330 Indication Healthy Volunteers CIndU Migraine Key Takeaways Well-tolerated Clear target engagement ~70% human skin penetratio
Slide 29: Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis
Planned Phase 2b Dose-Ranging Trial in Migraine Prophylaxis Top-line Data Expected in 2027 © Evommune, Inc. BL = Baseline; CFB = change from baseline; MMD = monthly migraine days; MHD = monthly headache days; QoL = quality of life BL Adults with Refractory Migraine ≥6 Days/Month (N ≈ 330) Screening
Slide 30: EVO646: Oral TLR7/8 Antagonist
EVO646: Oral TLR7/8 Antagonist Potential Best-in-Class Dual Mechanism (Type I Interferon and Pathogenic B-Cell / Autoantibody) for Autoimmune Disease © Evommune, Inc.
Slide 31: TLR7/8 Inhibition Suppresses Two Major Drivers of Autoimmune Disease
TLR7/8 Inhibition Suppresses Two Major Drivers of Autoimmune Disease © Evommune CONFIDENTIAL Type I Interferon Pathway Pathogenic B-Cell Pathway ↓ Type I IFN ↓ Autoantibodies Elevated antibody B cell IL1b TNFa IL-6 Inflammation IFNa IFNb pDC Plasma cell Single Target with Complementary Effects on Tw
Slide 32: Large Market Opportunity for TLR7/8 Autoimmune Indications
Large Market Opportunity for TLR7/8 Autoimmune Indications: Highly Valued Segment of I&I Market © Evommune CONFIDENTIAL Strong Scientific Rationale for TLR7/8 in Autoimmune Diseases Mechanistic Insights Human Genetics Clinical POC Preclinical Validation Strong causal link of TLR7 to autoimmune disea
Slide 33: EVO646: Strategic Approach for a Best-in-class TLR7/8 Inhibitor
EVO646: Strategic Approach for a Best-in-class TLR7/8 Inhibitor Developed through Partnership with Accutar Biotech © Evommune CONFIDENTIAL Attribute Targeted Outcome Potency <10 nM IC50 against human TLR7/8 Selectivity >100-fold less potent at inhibiting TLR9 Dosing QD dosing, with ≤100 mg dosed per
Slide 34: EVO646 Has Best-in-Class Potential
EVO646 Has Best-in-Class Potential EVO646 (Evommune) Afimetoran (BMS/Beeline) Enpatoran (Merck Serono) Potency (nM) (HEK293T) 6.70 1.70 11.2 In vivo activity Mouse PD* >80% inhibition @ 1mpk >80% inhibition @ 1mpk >80% inhibition @ 1mpk Dosing QD QD BID Safety >10uM hERG 1/87 CEREP 9.29 uM hERG 6/87
Slide 35: Afimetoran Validated TLR7/8 Inhibition in SLE
Afimetoran3 Validated TLR7/8 Inhibition in SLE Phase 2 Met SRI-4 Primary Across All 3 Doses4 Established Clinical Validation for TLR7/8 Inhibition © Evommune CONFIDENTIAL 1. Enpatoran is an investigational product being developed by EMD Serano 2. Enpatoran WILLOW Phase 2, Cohort A (ACR 2025) 3. Afi
Slide 36: Key Milestones Ahead For Evommune
Key Milestones Ahead For Evommune (NYSE: EVMN) © Evommune, Inc. ~$287M Cash and Investments; Expected Runway Into 2029 Championing Innovation for Chronic Inflammation EVO301 IL-18BP Plan to initiate Phase 2b in AD with subcutaneous formulation in mid-2027 EVO756 MRGPRX2 Expect top-line data from Pha
Slide 37: Thank You!
Thank You! www.evommune.com © Evommune, Inc.
Slide 38: Appendix
Appendix © Evommune, Inc.
Slide 39: Proven and Experienced Leadership Team
Proven and Experienced Leadership Team Has Delivered Almost 30 NDAs and BLAs © Evommune, Inc. Footnotes: Acquisition prices from press releases Luis Peña Founder, President & CEO Eugene Bauer, MD Founder, CMO Kyle Carver, MBA CFO Greg Moss, Esq CBO & CLO Jeegar Patel, PhD CSO Janice Drew, MPH Chief