Evelo Bio raises $47.5M for I/O work; Vertex gets started on a fast pivotal effort for triple CF combo
→ Seven months after Google-backed Evelo Biosciences brought its total venture raise to $100 million, the microbial experts are at it again. Evelo has raised another $47.5 million, according to a new filing with the SEC. Flagship Pioneering seeded Evelo and has helped to keep a marquee group of investors behind the company, which merged two fledgling operations into one. The big idea here is that Evelo believes it has the tech needed to advance a new immuno-oncology drug at a time the lead PD-1/L1 therapies are becoming semi-commoditized as a new wave of checkpoint therapies hits the market.
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