3:08 PM
Apr 13, 2018
 |  BC Extra  |  Financial News

Evelo proposes $100M IPO

Microbiome company Evelo Biosciences Inc. (Cambridge, Mass.) proposed to raise $100 million in an IPO on NASDAQ underwritten by Morgan Stanley, Cowen, BMO Capital Markets and JMP Securities.

Evelo has a portfolio of preclinical monoclonal microbials that interact with gut cells to modulate systemic immunology and biology to treat cancer and inflammatory diseases (see BioCentury Innovations, Dec. 3, 2015).

Evelo expects to start Phase I testing of psoriasis and atopic dermatitis candidate EDP1066 this quarter, with data expected in 1H19. An additional candidate, EDP1815, is slated to start Phase I testing in 4Q18 for the same indications.

Next half, Evelo plans to start a Phase I trial of a third candidate, EDP1503, in combination with a PD-1 inhibitor to treat metastatic melanoma. Data are expected in 2H20.

Last year, Evelo raised $50 million in a series B round (see BioCentury July 14, 2017).

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