Merger of Evelo and Epiva Biosciences will create leading immuno-microbiome platform company
USA-based Flagship Ventures yesterday announced the merger of its portfolio companies Evelo Biosciences and Epiva Biosciences to create a leading immuno-microbiome company, developing therapeutics for cancer, autoimmune and inflammatory diseases.
The new entity will keep the name Evelo Biosciences and operate under the leadership of chief executive and president, Simba Gill. Noubar Afeyan, CEO of Flagship Ventures, was named chairman of the combined company.
Evelo and Epiva were both founded by Flagship's VentureLabs innovation foundry in 2014 and followed the lineage of prior VentureLabs-founded microbiome companies Seres Therapeutics (launched in 2012) and Indigo Agriculture (launched in 2013). The Evelo-Epiva merger results in a 42-person company and combines each team's pioneering research findings, product candidates and intellectual property protected by over 50 patents and applications. Flagship has financed the company with about $40 million to date and plans to make additional investments to support its rapid growth.
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