Investment Summary

Andera Partners and EQT Life Sciences Exits Evommune

On November 5, 2025, invested in life science company Evommune from Andera Partners and EQT Life Sciences

Investment Highlights
  • This is transaction in the Life Science sector.
  • This is transaction in the United States.
  • This is transaction in California.

Investment Summary

Date 2025-11-05
Target Evommune
Sector Life Science
Sellers(s) Andera Partners
EQT Life Sciences
Deal Type IPO

Target

Evommune

Palo Alto, California, United States
Evommune is a biopharmaceutical company developing innovative therapies in the area of chronic inflammation, particularly in dermatological conditions. Evommune was founded in 2020 and is based in Palo Alto, California.

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Seller(S) 2

SELLER

Andera Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 3.7B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Andera Partners is a private investment firm focused on several strategies. The Firm invests in life science opportunities through its BioDiscovery group. The Firm invests in Western European small to mid-sized companies (€30 to €300 million of revenue) through its Winch Capital group. Andera invests in small to mid-sized French companies (€10 to €100 million of revenue) through its Cabestan Capital team. Andera invests in €5 to €45 million of mezzanine capital to support small to mid-sized French companies. Andera Partners was established in 2001 and is headquartered in Paris.


DEAL STATS #
Overall 52 of 52
Sector: Life Science M&A 10 of 10
Type: IPO M&A Deals 7 of 7
State: California M&A 3 of 3
Country: United States M&A 4 of 4
Year: 2025 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-23 Adler Ortho

Cormano, Italy

Adler Ortho designs, produces, and distributes orthopedic implants, surgical instruments, and bioresorbable products, with emphasis on 3D-printed complex applications. The company serves international markets across multiple orthopedic specialties. Adler Ortho was founded in 2004 and is based in Cormano, Italy.

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SELLER

EQT Life Sciences


Category Growth Capital Firm
Founded 1987
PE ASSETS 3.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

EQT Life Sciences (formerly Life Science Partners) is a private investment firm focused on growth and venture capital financing for life sciences and healthcare companies. The Firm targets early to mid?stage companies in sectors such as therapeutics, medical devices, diagnostics, healthtech, and biotech. EQT Life Sciences was formed in 1986 and is headquartered in Amsterdam, the Netherlands.


DEAL STATS #
Overall 10 of 10
Sector: Life Science M&A 6 of 6
Type: IPO M&A Deals 2 of 2
State: California M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2025 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-22 Imcheck Therapeutics

Marseilles, France

ImCheck Therapeutics is a new generation of immunotherapeutic antibodies targeting butyrophilins, a novel superfamily of immunomodulators. Its clinical-stage program, ICT01, has been advancing to late-stage trials, demonstrating a unique mechanism of action that modulates both innate and adaptive immunity. These “first-in-class” activating antibodies may deliver superior clinical outcomes compared to first-generation immunotherapy approaches, in particular in rational combinations with immune checkpoint inhibitors and immunomodulatory anti-cancer drugs. Imcheck Therapeutics was founded in 2015 and is based in Marseilles, France.

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