Evelo raises $50M in series B round

Evelo Biosciences Inc. (Cambridge, Mass.) raised $50 million in a series B round from Flagship Pioneering; GV, the venture arm of Alphabet Inc. (NASDAQ:GOOG); Celgene Corp. (NASDAQ:CELG); the Mayo Clinic; and Alexandria Venture Investments. Spokesperson Stefan Riley said Flagship was the round's largest contributor.

Evelo is developing oral medicines that interact with gut cells to modulate systemic immunology and biology to treat cancer and inflammatory diseases (see BioCentury Innovations, Dec. 3, 2015)...