Equillium is developing EQ504, an oral, colon‑targeted modulator of the aryl hydrocarbon receptor (AhR) intended for ulcerative colitis and pouchitis. The company’s research emphasizes AhR modulation to induce cytokines IL‑10 and IL‑22, which it believes offer a differentiated, non‑immunosuppressive approach to controlling inflammation and promoting tissue regeneration. Equillium plans to advance EQ504 into a Phase 1 proof‑of‑mechanism study in mid‑2026, with data expected about six months after dosing. The proceeds from the financing will support EQ504 development, working capital, and general corporate needs. Comparators cited in the company’s thesis include tapinarof, indigo naturalis, and Abivax’s obefazimod as validations of AhR activity in skin and GI diseases. Equillium also announced it will not pursue its prior cryptocurrency treasury reserve strategy at this time.

Total raised

$30M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2025