Evelo Biosciences Raises $50M in Series B Financing

Evelo Biosciences, a Cambridge, MA-based biotechnology company developing monoclonal microbials, a new modality of medicine, completed a $50m Series B financing round.

Backers included Evelo’s founding and principal investor Flagship Pioneering, GV, Celgene, Mayo Clinic and Alexandria Venture Investments.

The company intends to use the funds to advance multiple monoclonal microbial product candidates into clinical studies in oncology and immunoinflammatory diseases in 2018 and to expand its product platform.

Led by Simba Gill, Ph.D., CEO, Evelo Biosciences is dedicated to improving the lives of patients globally through the development of a new modality of medicines – monoclonal microbials. Monoclonal microbials are orally delivered medicines that modulate systemic immunology and biology through direct interactions with human cells in the gut. These new medicines are broadly applicable across many diseases – including autoimmune, immunoinflammatory, metabolic, neurological, neuroinflammatory diseases and cancer.

Key people in the company are:
– Noubar Afeyan, Ph.D., chairman of Evelo’s board of directors and founder and CEO of Flagship Pioneering
– David R. Epstein, chairman of Rubius Therapeutics and executive partner at Flagship Pioneering, board member;
– Theo Melas-Kyriazi, CFO of Levitronix Technologies LLC, board member;
– Stelios Papadopoulos,  chairman of the board of directors of Biogen, Inc., Exelixis, Inc. and Regulus Therapeutics, Inc., special board advisor;
– Andrea Itano, senior vice president, immuno-inflammatory disease head;
– Humphrey Gardner, senior vice president, chief of medical oncology;
– Chun Zhang, senior vice president, process development and manufacturing.

Evelo was conceived and created within VentureLabs®, Flagship Pioneering’s institutional innovation foundry, and launched by Flagship in 2015.




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