Evelo Biosciences, a US-based microbial therapeutics developer backed by pharmaceutical firm Celgene and medical practice and research group Mayo Clinic, has raised $47.5m in funding according to a regulatory filing.
Founded in 2014, Evelo Biosciences emerged out of incubator and venture capital firm Flagship Pioneering, and is working on a new class of medication known as monoclonal microbials which exploit naturally occurring microbes in the human microbiome.
The company is targeting a wide range of conditions from various cancers to immuno-inflammatory diseases, neuro-inflammatory and neurodegenerative diseases, metabolic conditions and central nervous system disorders. It is also developing a range of vaccines.
Flagship provided $35m of series A funding for Evelo in 2015 and subsequently led its $50m series B round in July 2017.
Celgene, Mayo Clinic and GV, the early-stage investment arm of internet and technology group Alphabet, also chipped into the series B round, as did Alexandria Venture Investments, the VC arm of life sciences real estate trust Alexandria Real Estate Equities.