Nov 5, 2026, PALO ALTO, Calif. & NEW YORK & CHENGDU, China - Hinova Pharmaceuticals Inc. (SSE: 688302), and Evommune, Inc. (NYSE: EVMN) (“Evommune”), a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases, today announced an exclusive license agreement granting Evommune worldwide rights outside of Greater China to develop, manufacture and commercialize EVO570 (formerly HC118 and known as HP570 in Greater China), an oral VAV1-directed molecular glue degrader (MGD).
As consideration for the license, Evommune will pay Hinova an upfront payment of USD 30 million. Hinova is also eligible to receive up to approximately USD 1.07 billion in development, regulatory and commercialization milestone payments, as well as tiered royalties on net sales in the licensed territory. In addition, Hinova may be entitled to an additional share of sublicense revenue under certain circumstances as stipulated in the agreement. BFC Group served as the exclusive financial advisor and Fangda Partners served as the exclusive legal advisor to Hinova in this transaction.
VAV1 is a signaling protein that prominently drives T- and B-cell activation across a wide range of chronic inflammatory diseases. EVO570, discovered by Hinova, is an investigational oral MGD designed to selectively eliminate VAV1, quieting the immune activity underlying many autoimmune diseases. Unlike JAK enzymes, which are broadly expressed across many tissues and organs, VAV1 is largely restricted to immune cells, a core rationale for its potential to offer a much-needed, favorable safety and tolerability profile. In preclinical studies, EVO570 has demonstrated promising activity in animal models of multiple immune-mediated conditions and greater potency in human immune cells than competitor VAV1 degraders. A Phase 1 trial evaluating safety, pharmacokinetics and target engagement/pharmacodynamics is on track to begin imminently.
Hinova Pharmaceuticals Inc. (SSE: 688302), headquartered in Chengdu, China, is an international, clinical-stage biopharmaceutical company focused on discovering, developing, manufacturing and commercializing innovative therapies for treating cancer, autoimmune diseases and metabolic diseases. Hinova has one product that has been approved in China for prostate cancer. The company’s pipeline includes multiple investigational drugs, including traditional small molecules, deuterated drug, PROTAC degraders, molecular glue degrader, targeting a variety of cancer types, autoimmune diseases and metabolic disorders, all aimed at addressing significant unmet medical needs and improving patient outcomes.
Fangda Partners provided comprehensive legal services to Hinova Pharmaceuticals in this transaction. The Fangda team was led by partners Henry HE, Josh SHIN and Bella WANG, who advised on the transaction structuring and led the negotiation and revision of the transaction documents. Team members included counsel Alice PING and associates Essie ZHAO, Ethel WANG and Shuyan ZHANG. Fangda’s multidisciplinary teams worked closely and efficiently throughout the transaction, providing strong legal support for its successful execution.