Evelo Biosciences

"Monoclonal microbial" products to treat cancer and inflammatory disease

Founded: 2014

Location: Cambridge, MA

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Product summary

Product name Target Indications Stages
EDP1066 N/A

Atopic dermatitis

Psoriasis

Ulcerative colitis / Crohn's colitis

Phase 1

Phase 1

Preclinical

EDP1503 N/A

Acute myeloid leukemia

Melanoma

PD-1 relapsed

Renal cell carcinoma

Preclinical

Preclinical

Preclinical

Preclinical

EDP1815 N/A

Atopic dermatitis

Psoriasis

Rheumatoid arthritis

Preclinical

Preclinical

Preclinical

Financial summary

$ in millions 2016 2017
Gut-body network platform expenses $2.1 $3.8
Inflammation programs $0.0 $4.3
Oncology programs $2.6 $3.7
Other program expenses $0.4 $0.6
R&D personnel $4.1 $7.6
Total R&D spend $9.1 $20.0
G&A spend $3.9 $7.8
Operating income / loss -$13.0 -$27.7

Licensing deals ($M)

Licensor Date Initial cash Total milestones Min royalty Max royalty
University of Chicago 03/01/2016 Less than $500,000 $60.9 Low single-digit Low single-digit
Mayo Clinic 08/01/2017 $0.2 $56.0 Low single-digit Low single-digit

Valuation ($M)

Funding summary ($M)

Round Date Amount Post-money Returns at IPO Investors
Series A 06/29/2015 $7.0 $10.5 6.5x Flagship
Series A1 06/16/2016 $6.1 $16.6 6.5x Flagship
Series A2 06/13/2016 $7.0 $40.2 3.3x Flagship
Series A3 06/16/2016 $10.5 $50.7 3.3x Flagship
Series B 01/05/2017 $50.5 $126.5 2.2x Flagship, GV, Celgene, Mayo Clinic, Alexandria Venture Investments,
Series C 02/09/2018 $81.5 $308.4 1.2x Flagship, Fidelity, GV, Celgene, Mayo Clinic, Alexandria Venture Investments,