Equillium
Equillium is a clinical-stage biotechnology company developing immunomodulatory therapeutics (EQ504 AhR modulator, EQ302 multi-cytokine inhibitor, itolizumab anti-CD6 mAb) for severe autoimmune and inflammatory disorders with high unmet medical need.
- Company typePublic
- Founded2017
- HeadquartersLa Jolla, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Equillium does
Equillium is a clinical-stage biotechnology company founded in 2017 (IPO on NASDAQ as EQ in October 2018) that develops novel immunomodulatory therapeutics for severe autoimmune and inflammatory disorders with high unmet medical need. The company's pipeline comprises three core programs: EQ504, a potent and selective aryl hydrocarbon receptor (AhR) modulator acquired through the May 2025 Ariagen acquisition, designed for targeted local delivery in ulcerative colitis and inflammatory lung diseases; EQ302, an oral bi-specific cytokine inhibitor targeting IL-15 and IL-21 derived from a proprietary Multi-Cytokine Inhibitor Platform of structured-domain stapled peptides acquired through the February 2022 Bioniz Therapeutics acquisition; and itolizumab, a first-in-class monoclonal antibody targeting the CD6-ALCAM signaling pathway.
Equillium operates from its headquarters in La Jolla, California and a research facility in San Diego. The company has 11-50 employees and is led by co-founder Bruce Steel (CEO), co-founder Stephen Connelly (President/CSO), Chief Operating Officer Christine Zedelmayer, Chief Development Officer Snehal Naik (appointed to lead clinical development across the pipeline, including the EQ504 program), and SVP Finance Penny Tom. The board is chaired by Daniel Bradbury.
The business model is pre-revenue clinical development with licensing/partnering as the primary monetization mechanism. Equillium historically generated revenue through an Asset Purchase Agreement with Ono Pharmaceutical, which produced $41.1M in FY2024 but wound down to zero in FY2025. The company has raised approximately $85M in 2025-2026 through two private placements ($50M led by ADAR1/Janus Henderson in August 2025; $35M led by RA Capital in March 2026), holds ~$61.3M in cash (March 2026), and guides cash runway into 2029. With no commercialized products, future revenue is expected to come from strategic partnerships, licensing, or product commercialization, including plans for EQ504 (Phase 1 in mid-2026) and progression of EQ302 in celiac disease.
Equillium firmographics
Firmographics- Name
- Equillium
- Legal name
- Equillium, Inc.
- Website
- https://equilliumbio.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Equillium is a clinical-stage biotechnology company developing immunomodulatory therapeutics (EQ504 AhR modulator, EQ302 multi-cytokine inhibitor, itolizumab anti-CD6 mAb) for severe autoimmune and inflammatory disorders with high unmet medical need.
- Ownership category
- akta.pro rank
Equillium industry classification
Industry- Product category
- Clinical-stage Immunotherapeutics
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414)
- SIC
- Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Immunology & Inflammation Pharmaceuticals (HLAIAAAD)
- akta.pro secondary industries
- Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB), Rare Immunology, Autoimmune & Autoinflammatory Therapies (HLAIAIAE)
Keywords
Where Equillium is headquartered
LocationHeadquarters
- HQ city
- La Jolla
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Equillium business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- Licensing and Asset Transactions: Pre-revenue clinical stage company. Previously generated $41.1 million in revenue in 2024 from Asset Purchase Agreement with Ono Pharmaceutical for clinical studies and asset sale. Revenue dropped to zero in 2025 due to wind-down of clinical studies and completion of the Asset Purchase Agreement. Future revenue potential from drug development partnerships, licensing deals, or product commercialization.
- Pipeline Development Partnerships: Strategic partnerships for co-development and commercialization of drug candidates. The company evaluates further advancement of EQ302 for GI indications including celiac disease, potentially through partnering arrangements.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Equillium product offering
Product offeringCore offering
Equillium is a clinical-stage biotechnology company developing novel immunomodulatory therapeutics for severe autoimmune and inflammatory disorders with high unmet medical need. Its pipeline includes EQ504 (an aryl hydrocarbon receptor modulator entering Phase 1 for ulcerative colitis), EQ302 (an oral multi-cytokine IL-15/IL-21 inhibitor in discovery for celiac disease), and itolizumab (a first-in-class anti-CD6 monoclonal antibody). The company intends to commercialize these candidates through strategic partnerships and licensing deals with large pharmaceutical companies.
Product overview
Equillium is a clinical-stage biotechnology company developing novel immunomodulatory therapeutics for severe autoimmune and inflammatory disorders. The company's portfolio includes three main product candidates: EQ504 (a potent and selective AhR modulator for ulcerative colitis and inflammatory lung diseases), EQ302 (an oral bi-specific IL-15/IL-21 inhibitor for gastrointestinal and skin diseases), and itolizumab (a monoclonal antibody targeting the CD6-ALCAM pathway). These programs are supported by a proprietary Multi-Cytokine Inhibitor Platform technology that enables rational design of peptide-based cytokine inhibitors.
Differentiator
Problem solved
Functional benefit
Products and services
- EQ504 A potent and selective aryl hydrocarbon receptor (AhR) modulator with a multi-modal, non-immunosuppressive mechanism of action. EQ504 is designed for targeted, local delivery via enteric coating for ulcerative colitis and other gastrointestinal diseases, or inhaled formulations for inflammatory lung diseases. It maintains barrier function, promotes tissue repair and regeneration, and regulates resident immune cells with anti-inflammatory responses.
- EQ302 A first-in-class selective bi-specific cytokine inhibitor targeting IL-15 and IL-21, two cytokines central to T and B cell activity that exhibit biological synergy driving aggressive inflammatory responses in gastrointestinal and skin diseases. EQ302 is orally delivered as a structured-domain stapled peptide with increased stability and permeability in the GI tract.
- Itolizumab A clinical-stage, first-in-class immune-modifying monoclonal antibody that targets the CD6-ALCAM signaling pathway to selectively downregulate pathogenic T effector cells while preserving T regulatory cells critical for maintaining balanced immune response. Indicated for graft-versus-host disease and other autoimmune and inflammatory conditions.
Quantifiable outcome
- Phase 1 proof-of-mechanism study for EQ504 planned for mid-2026 with data expected approximately six months thereafter
- +1 more outcomes
Companies that use Equillium
Customer profileSegments1 record
Ideal customer profiles1 record
Equillium technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Equillium partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and major.
- Bioniz TherapeuticscoreEquillium acquired Bioniz Therapeutics including two clinical-stage assets and a proprietary platform. Transaction involved consideration of over 5.7 million shares of Equillium's common stock. The acquisition expanded Equillium's immunology pipeline.
- Ono PharmaceuticalmajorPrior strategic partnership involving Asset Purchase Agreement that generated $41.1 million in revenue in 2024. The partnership was completed/wound down in 2025.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Equillium competitors and assessment
Company assessmentDirect peers
- Ventyx Biosciences: Clinical-stage immunology biotech developing oral therapeutics for inflammatory diseases. Highly comparable stage, size, and therapeutic focus; Equillium's CDO Snehal Naik was previously SVP and Head of Clinical Development at Ventyx.
- aTyr Pharma: Clinical-stage biotech developing immunology therapeutics leveraging novel biology (respiratory and inflammation). Similar stage, similar mechanism-driven approach to inflammation; co-founder Connelly previously worked at aTyr.
- Provention Bio: Clinical-stage biotech developing immunology therapies (now part of Sanofi). Similar size and development-stage profile focused on autoimmune and inflammatory indications with high unmet need.
- Morphic Holding: Clinical-stage biotech developing oral integrin therapeutics for autoimmune diseases including UC and IBD. Direct overlap with Equillium's UC focus via EQ504; comparable development stage and immunology platform play.
Broad incumbents
- AnaptysBio: Clinical-stage antibody-focused biotech with programs in inflammatory/immunology indications (e.g., rosnilimab, ANB032). Comparable mechanism of antibody-based immunomodulation, larger market cap, broader pipeline.
- Bristol-Myers Squibb: Major pharma with Zeposia (ozanimod) approved for UC. Represents the competitive landscape Equillium's UC programs would face; provides a benchmark for large-pharma commercial scale in the indication.
- AbbVie: Major pharma with Humira, Skyrizi, and Rinvoq across autoimmune indications including UC. Represents the dominant competitive force in inflammatory bowel disease that any Equillium UC entrant must address.
Emerging players
- Soligenix: Late-clinical-stage biotech with programs in rare inflammatory diseases and GI conditions. Comparable small-cap clinical-stage profile and therapeutic area overlap in inflammatory conditions.
Others
- Receptos: Acquired by Celgene (now BMS) for $7.2B largely on the strength of ozanimod in UC/MS — represents the successful exit path that clinical-stage UC-focused biotechs like Equillium aspire to and that CEO Bruce Steel helped invest in at BioMed Ventures.
- Ono Pharmaceutical: Japanese pharma that was Equillium's prior strategic partner via Asset Purchase Agreement (generated $41.1M revenue in 2024). Represents the licensing/partnering counterparty archetype for clinical-stage assets like EQ504.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Equillium social profiles
Digital presenceEquillium financial estimates
Financial estimateRevenue estimate
Valuation estimate
Equillium leadership team
Management profileNumber of profiles
Profiles5 records
Equillium funding detail
Funding detailFunding overview
Funding rounds6 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Equillium M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Equillium
What does Equillium do?
Equillium is a clinical-stage biotechnology company developing novel immunomodulatory therapeutics for severe autoimmune and inflammatory disorders with high unmet medical need. Its pipeline includes EQ504 (an aryl hydrocarbon receptor modulator entering Phase 1 for ulcerative colitis), EQ302 (an oral multi-cytokine IL-15/IL-21 inhibitor in discovery for celiac disease), and itolizumab (a first-in-class anti-CD6 monoclonal antibody). The company intends to commercialize these candidates through strategic partnerships and licensing deals with large pharmaceutical companies.
Is Equillium a public or private company?
Equillium is a public company. It is classified as public and is currently operating.
When was Equillium founded?
Equillium was founded in 2017. It employs 11 to 50 people.
Where is Equillium based?
Equillium is headquartered in La Jolla, United States, in the North America region.
How does Equillium make money?
Two revenue lines are on record. Licensing and Asset Transactions are the primary driver. The others are pipeline Development Partnerships.
Who are Equillium's main competitors?
Direct peers on record are Ventyx Biosciences, aTyr Pharma, Provention Bio and Morphic Holding. Broad incumbents are AnaptysBio, Bristol-Myers Squibb and AbbVie. Soligenix is listed as an emerging player. Others are Receptos and Ono Pharmaceutical.
Does Equillium have an API?
No public API is recorded for Equillium.
What industry is Equillium in?
Equillium's product category is Clinical-stage Immunotherapeutics. Its primary akta.pro industry code is HLAIAAAD, Immunology & Inflammation Pharmaceuticals, with a secondary code of HLAIACAB, Immunology & Autoimmune Specialty Pharmaceuticals. Its NAICS code is 325414 and its SIC code is 2834.