Simba Gill, CEO of Evelo Biosciences

While down 87% YOY, Evelo gets Flag­ship and oth­ers to in­fuse new cap­i­tal for come­back hope

Just four years af­ter Flag­ship spin­out Evelo Bio­sciences went pub­lic in an IPO worth $85 mil­lion, the biotech has seen its share price tank from $13 a share this time last year (ul­ti­mate­ly reach­ing a peak of over $17) to now un­der $1.50. And to­day, it looks like Flag­ship still thinks the fledg­ing biotech, in a down mar­ket, is still worth some­thing af­ter ini­tial pre-IPO back­ing from the likes of Google’s GV, Cel­gene, Mayo Clin­ic and Alexan­dria Ven­ture.

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