# Evelo Biosciences

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evelo-biosciences

- Industry: Biotechnology
- Headquarters: Cambridge, US
- Website: www.evelobio.com
- Total disclosed funding: $98M
- Latest round: Series C (Feb 9, 2018)
- Investors on record: 8

## About

Evelo Biosciences, Inc. is a US-based biotechnology company that develops innovative therapeutic treatments aimed at leveraging the immune system to address various medical conditions.Founded in 2014 and headquartered in Cambridge, US, Evelo Biosciences, Inc. focuses on therapeutic innovations using its proprietary EDP platform. The company has undergone significant funding rounds, most recently raising USD 25.50 mn in a PIPE deal led by Flagship Pioneering. The total amount raised by Evelo to date is USD 25.50 mn, with a total of 12 deals completed.Evelo Biosciences specializes in developing and commercializing innovative therapeutic treatments that target various medical conditions through its EDP platform. These therapies aim to enhance patient outcomes by addressing inflammatory and autoimmune disorders. The company markets its products primarily in North America and selected regions in Europe, catering to healthcare providers including hospitals and specialty pharmacies.Evelo Biosciences generates revenue through direct sales and partnerships within the healthcare sector. It sells its therapies directly to hospitals and clinics, where they are prescribed to patients. Additionally, the company collaborates with pharmaceutical firms to expand its market reach, ensuring a sustainable revenue stream aligned with the value delivered to patients and healthcare systems. In 2022, Evelo reported an EBITDA of USD -106.41 mn.Evelo Biosciences plans to utilize the recent funding to support the development of drugs targeting cancer, autoimmune disorders, and inflammatory diseases. The company anticipates expanding its presence in new geographic markets, with specific focus areas yet to be defined. Ongoing clinical trials aim to bring new products to market, further enhancing its therapeutic offerings.

## Funding rounds

- Series C, Feb 9, 2018, $48M — Flagship Pioneering, HarbourVest Partners, Mayo Clinic Ventures, Alexandria Venture Investments, SV Health Investors, GV, University of Leicester, Bristol-Myers Squibb Company
- Series B, Jan 5, 2017, $50M — Flagship Pioneering, Mayo Clinic Ventures, Alexandria Venture Investments, GV, Bristol-Myers Squibb Company

## Investors

- Flagship Pioneering (https://capitalatlas.ai/funds/flagship-pioneering) — Series B, Series C
- Mayo Clinic Ventures (https://capitalatlas.ai/funds/mayo-clinic-ventures) — Series B, Series C
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series B, Series C
- GV (https://capitalatlas.ai/funds/gv) — Series B, Series C
- Bristol-Myers Squibb Company — Series B, Series C
- HarbourVest Partners (https://capitalatlas.ai/funds/harbourvest-partners) — Series C
- SV Health Investors (https://capitalatlas.ai/funds/sv-health-investors) — Series C
- University of Leicester — Series C