An American biotech has raised $50 million in funding to help it advance a new wave of medicines designed to combat a range of diseases – including cancer.
Evelo Biosciences attracted investment from Flagship Pioneering – the company’s backer from day one – and others, including Alexandria Venture Investments and Celgene. The money will be used to progress its drugs, called monoclonal microbials – which are delivered orally – to clinical trial. These medicines can have an impact at ‘all stages of disease’.
“The development of monoclonal microbials is opening up new possibilities to help patients and enable a whole new modality of medicines. Evelo is pioneering the translation of new discoveries on the interactions between the microbiome and the immune system into a powerful new platform for treating a broad range of diseases,” explained Dr Noubar Afeyan, chairman of Evelo’s board of directors and founder and CEO of Flagship Pioneering. “This growth-stage investment from Flagship and other leaders in innovation and life sciences enables Evelo to advance several monoclonal microbials into clinical trials and to further expand and scale our platform.”