Evelo Biosciences’ vision of using microbes to engage the gut and modulate immune responses remains unrealized. With financing prospects dim and no one willing to take on its assets, Evelo is dissolving its business.
Companies that target the microbiome for various therapies have rallied $840 million since 2010, according to a new report by Silicon Valley Bank that analyzes the wider progress of the field.
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Evelo Biosciences is doing pretty well for a preclinical company in an exploratory field. The 2014 startup has already executed a merger and raised $100 million in venture financing for its so-called "monoclonal microbials."
“It was driven by the recognition that fundamentally the biological platform for both companies was a mirror image. We both independently uncovered the biology of the immune-microbiome.”