EQT-Backed Biotech Firm Evommune Raises $150 Million in IPO

Evommune Inc., a biotechnology company targeting chronic inflammatory diseases, raised $150 million in an initial public offering, adding to the list of companies that have been able to proceed with listings despite the US government shutdown.

The EQT AB-backed company sold 9.38 million shares at $16 each, according to a statement Wednesday. Palo Alto, California-based Evommune had marketed the shares for $15 to $17 each, according to its filings with the US Securities and Exchange Commission.