Connect with us

Subscribe

biotech

$50M for new wave of medicines

investment
Credit: iStock

(USA)

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.”

 

Newsletter Signup

Staff reporter
Written By

Advertisement

Connect
Newsletter Signup