ARTICLE | Finance
Guts and ambition
Why microbiome play Evelo raised $50 million to expand its clinical program
July 15, 2017 2:35 AM UTC
With an additional $50 million in funding and plans to start 5-10 clinical trials of monoclonal microbials in 2018, Evelo Biosciences Inc. is shaping up to be one of the most ambitious of the microbiome companies.
The $50 million series B round announced July 11 brings the company’s total to $100 million, making it one of the top raisers in the space. The B round was led by Flagship Pioneering, with participation from GV, Celgene Corp. (NASDAQ:CELG), the Mayo Clinic and Alexandria Venture Investments.
Only two microbiome companies have raised more, and both are public, in the clinic -- and working on fewer programs...
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